Ingredients

3 1/2 quarts popcorn 

1 cup (5 1/2 ounces) salted peanuts 

Basic Caramel

6 tablespoons unsalted butter, cut into small pieces 

3/4 tablespoon salt 

Preparation

Put popcorn (popped from 1/2 cup kernels) and peanuts in a large buttered bowl; set aside. Follow recipe for basic caramel, reducing sugar to 1 1/4 cups (do not reduce water). Remove caramel from heat, and use a clean wooden spoon to gently stir in butter and salt (caramel will bubble); stir until smooth. Pour caramel over popcorn, stirring to coat. Stir mixture every few minutes until cool. Store in an airtight container up to 1 week.