01 - Heat oil in a large pot over medium heat. Add popcorn kernels, cover with lid, and shake occasionally until popping slows significantly. Remove from heat and 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 constantly until sugar completely dissolves. Continue boiling for 3-4 minutes without stirring until mixture slightly thickens.
03 - Remove saucepan from heat immediately. Stir in vanilla extract and red food coloring, adding additional drops drop by drop until desired rosy pink shade is achieved.
04 - Quickly pour hot pink glaze over popped popcorn. Using a heat-resistant spatula or greased hands, toss continuously until all kernels are evenly coated with the glaze.
05 - Spread coated popcorn in a single layer on a parchment-lined baking sheet. Allow to cool completely at room temperature until glaze hardens. Break into clusters and serve.