01 - Heat oil in a large pot over medium heat. Add popcorn kernels, cover, and shake occasionally until popping slows. Remove from heat. Transfer popped popcorn to a large bowl, discarding any unpopped kernels.
02 - Combine sugar, corn syrup, water, butter, and salt in a medium saucepan. Bring to a boil over medium heat, stirring until sugar dissolves. Continue boiling for 3-4 minutes without stirring until mixture slightly thickens.
03 - Remove saucepan from heat. Stir in vanilla extract and red food coloring. Add more food coloring as needed to achieve a rosy pink shade.
04 - Immediately pour hot glaze over the popcorn. Quickly toss with a spatula or greased hands to coat all kernels evenly while mixture is still workable.
05 - Spread coated popcorn onto a parchment-lined baking sheet. Allow to cool completely before breaking into clusters and serving.