Pop the popcorn and place it in a large bowl (something like this is great).
I always grab a bigger bowl than I think I’ll need, as it makes the mixing/tossing easier.
In a medium saucepan, melt the butter, sucanant, honey, and salt. Bring to a gentle simmer and cook/stir for around 5 minutes.
Remove from the heat and stir in the baking soda and vanilla. It will foam up a bit, but that’s OK. Simply stir it back down.
Working quickly, pour the caramel sauce over the popcorn.
Using a wooden spoon, mix and stir the sauce into the popcorn. You’ll want to move in a timely manner here, as the sauce will begin to thicken/harden and we want to make sure we have full popcorn coverage before that happens.
Either set aside to harden/cool for a bit and eat when desired OR bake.
To bake: spread onto baking sheets, bake at 250 degrees for 30-45 minutes, checking and stirring frequently.