Oh, how I indulged this Christmas! On the afternoon of Christmas Eve we had my father's birthday celebration at my SIL's parents' place. You may recall my mentioning C once in a while; she's my SIL's mom and she and my SIL do some catering on the side that I help out with from time to time. C also put out a cookbook of some of her best known recipes, and the recipes of some of her friends and relatives. While over there on the 25th, and then again for Christmas dinner on the 25th, C had one of her huge stainless steel catering bowls on the table absolutely filled to the brim with homemade caramel corn. It was addictive. I ate way more of it than I'd like to admit to. She added peanuts and pecans to it, too, so it was more like poppycock.
The recipe appears in C's Tried and True cookbook, and is shared here on the blog with her permission.
1 1/2 cups brown sugar
3/4 cup white sugar
1/2 cup corn syrup
1/3 cup butter
3/4 cup cream
1 tsp vanilla
3 quarts popped popcorn
In a large pot, combine both sugars, corn syrup, butter, and cream. Cook over medium heat until the sugar has dissolved. Wipe down the edges of the pot to ensure no sugar granules are sticking to the sides. Don't stir once it boils. Boil until the soft/chewy ball stage. Cool slightly. Pour over popped corn. Add nuts if you wish. Mix well. Form into balls if desired.
For more information on the soft/chewy ball stage mentioned, here is a good article.