In a large bowl, mix popped popcorn and peanuts. Prepare a sheet pan with parchment paper or a silpat baking mat. Set aside.
In a small saucepan, heat honey and sugar over medium heat. Bring to a simmer and simmer for about 2 minutes or until the sugar is dissolved. Remove from heat and immediately stir in vanilla and peanut butter until smooth and peanut butter is melted.
Pour over popcorn mixture and stir until all popcorn is coated. Spread onto prepared sheet pan and let set for 5-10 minutes before serving. Will remain slightly sticky and is best eaten the same day.
Notes
Make sure to remove all unpopped kernels! They hide really well under the peanut butter mixture and can do damage to your teeth.