1 2/3 c. popcorn kernels
5 - 6 tsp. olive oil
2 brown paper lunch bags
1 piece of adhesive tape
2 c. Spanish peanuts
8 Tbsp. unsalted butter
1 c. brown sugar
1 c. light corn syrup
4 Tbsp. molasses
1/2 tsp. salt
Preheat oven to 350°F/180°C.
Combine the popcorn and oil in a mixing bowl and toss to coat evenly. Place half of the oiled popcorn in each of the 2 brown paper bags and seal with tape.
Cook each bag of popcorn separately in a microwave oven set on high for 1 1/2 - 2 minutes. (Microwave ovens vary; be careful not to burn the popcorn.)
Empty both bags of popped corn into a large bowl. Add the peanuts to the popcorn.
For the caramel, heat the butter, brown sugar, corn syrup, molasses and salt in a small sauce pan until the butter has melted and the sugar is smooth and no longer grainy.
Pour the caramel over the popcorn and peanuts. Use a large spoon to toss the popcorn and peanuts until they are evenly coated.
Spread the mixture on a nonstick 12x17-in. baking sheet. Place the pan in the oven and bake for 6 minutes.
Remove the pan from the oven and use a spatula to turn and mix the cracker jacks. Bake for an additional 6 minutes.
Remove the cracker jacks immediately from the hot pan and place them in a large bowl. Allow the cracker jacks to air dry, tossing occasionally to promote even drying.
Store in an air tight container or enjoy while still warm and sticky.