Pecan Cashew Popcorn Balls

1 cup sugar
1 cup brown sugar, firmly packed
1 cup light corn syrup
2/3 cup water
1 pound butter
2 cups toasted pecan halves
2 cups lightly toasted cashews
8 cups popped popcorn

Combine the granulated sugar, brown sugar, corn syrup and water in a heavy pan fitted with a candy thermometer and place over high heat. Bring mixture to a boil and add the butter, stirring until it has melted. Continue cooking until the mixture reached 350 degrees F, 20-30 minutes.

In a LARGE, lightly oiled bowl, toss the nuts and popcorn together. Carefully pour the hot syrup over the popcorn-nut mixture. Carefully, but quickly, toss the mixture with a long-handled wooden spoon to coat the popcorn and nuts completely with syrup. As soon as the mixture is cool enough to handle, quickly shape into 3-inch balls and place the balls onto a nonstick or lightly oiled baking sheet to cool. Store, tightly wrapped, in a cool place. Wrap popcorn balls individually in squares of amber cellophane, tied up with ribbon. Or pile the balls together into a basket with red apples and wrap the basket in cellophane with ribbon. Or place the balls in a brown paper bag and tie with a ribbon.