Method:

• Heat oven to 325°F. In large bowl, stir cereal, popcorn and peanuts to mix; set aside.

• In 1-quart saucepan, heat corn syrup, honey and butter over medium heat, stirring frequently, just until mixture begins to boil. Remove from heat. Stir in vanilla.

• Pour syrup mixture over cereal mixture; stir until cereal mixture is evenly coated. Pour mixture into ungreased 15x10x1-inch pan. With rubber spatula, spread mixture until even.

• Bake 20 to 25 minutes, stirring once or twice, until mixture is crisp. While mixture is baking, place sheet of waxed paper on work surface.

• Immediately pour baked mixture onto waxed paper; spread out into a thin layer. Cool completely, about 30 minutes. Break caramel corn into pieces. Store in tightly covered container.