Rainbow Popcorn Balls

1 cup light corn syrup
1 cup granulated sugar
1 small box strawberry or lime Jell-O
1 1/2 cups salted peanuts, coarsely chopped
Red or green food coloring
1/2 cup unpopped popcorn

Pop popcorn in 3 tablespoons oil. Turn the popped corn into bowl and add peanuts.

In a 1-quart saucepan combine corn syrup and sugar. Cook, stirring with a wooden spoon, until sugar dissolves. Without stirring, bring mixture to a full rolling boil. Remove from heat and add Jell-O. Stir until dissolved and add food coloring. Pour over popcorn and mix. Butter hands and form into balls.