Line a baking sheet with parchment paper.
Spray with cooking spray.
Combine popcorn and peanuts on baking sheet. Set aside.
In a small saucepan, combine corn syrup, butter, and sugar.
Heat and stir over medium low heat until sugar is melted.
Stop stirring.
Brush down sides of pot with a pastry brush dipped in water.
Continue cooking without stirring to 300°F.
Remove from heat.
Pour over popcorn and peanuts.
Use a silicone spatula that has been sprayed with cooking spray to mix together.
Once candy starts to cool, separate it into smaller pieces.