01 - Heat vegetable oil in a large pot over medium heat. Add popcorn kernels and cover with lid. Shake pot occasionally until popping slows significantly. Remove from heat and transfer popped popcorn to a large mixing bowl, discarding any unpopped kernels.
02 - Combine granulated sugar, light corn syrup, water, unsalted butter, and salt in a medium saucepan. Bring mixture to a boil over medium heat, stirring constantly until sugar completely dissolves. Continue boiling for 3-4 minutes without stirring until glaze thickens slightly.
03 - Remove saucepan from heat source. Stir in vanilla extract and red food coloring, adding additional drops as needed to achieve desired rosy pink hue.
04 - Immediately pour hot pink glaze over popped popcorn. Working quickly, toss continuously using a heat-resistant spatula or greased hands to ensure even coating of all kernels.
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.