How to Make It
Heat oil in a large, lidded saucepan over medium-high heat. Add 3 kernels and wait for them to pop (about 30 seconds). Add remaining kernels, cover with lid, and gently but continuously shake the pot, allowing the kernels to pop but not burn. When the popping slows, remove the pan from heat. Rest, covered, for another minute, allowing the final kernels to pop. Spread popcorn (about 11 cups) onto two parchment-lined rimmed baking sheets. Set aside.
Return the saucepan to the stove, add the honey and sugar, and bring to a gentle but steady boil. Boil mixture for about 3 minutes, stirring continuously. Add the peanut butter, vanilla, and ¼ teaspoon salt, and stir until smooth. Remove from the heat.
Pour peanut butter caramel over the popcorn and sprinkle the Reese’s Pieces evenly throughout. Sprinkle with remaining salt, toss to coat, and let cool for 10 minutes. Taste, adding more salt if desired. To serve, divide caramel popcorn amongst four parchment paper cones.