Put oil and popping corn into the popper. Fasten the lid securely. Use high heat. Remove from heat when popping almost stops. Add 1/2 cup peanuts; close lid and stir. Repeat with remaining peanuts. Set aside.
In a small pan, place caramel squares and half & half. Cook on medium-high for 3 minutes; stirring every minute until mixture comes to a boil. Gradually pour half the caramel sauce into popcorn mixture in the Sweet & Easy and stir. Then add remaining mixture and stir until well coated.
Return mixture to the stove and cook on high 2-3 minutes, stirring continuously. Cool slightly. Onto parchment paper, spoon caramel-coated popcorn into small clusters. Let cool for 2-3 minutes and place into an airtight container. Makes about 8 cups.
Contributor: Wabash Valley Farms