1/4 c. butter
1/4 c. oil
1/2 lb. marshmallows (about 2 1/2 c.)
20 caramel candies (about 1 c.)
1/2 lb. salted peanuts (without skins)
10 c. popped corn, lightly seasoned
1/2 lb. M&M candies (can vary or use mixture of diced gumdrops, Reese's peanut butter pieces, chocolate chips)

Melt butter, oil, marshmallows and caramels over low heat, stirring constantly. Place popcorn and peanuts in LARGE bowl. Add melted mixture. Stir until well coated. Add candies. Mix.