Ready your popcorn in a large roaster or baking pan, making sure to pick out all the unpopped kernels! Set aside one or two saucers of sprinkles, once you start rolling those popcorn balls you want to have your workstation ready to go! Get two baking sheets lined with wax paper ready beside those saucers as well.
Combine the corn syrup, margarine, cold water, confectioners’ sugar and marshmallows in a pot, place on the stove on medium heat.
Slowly heat the mixture, stirring it, until it comes to a boil. Remove from the stove and pour over the popcorn, using a wooden spoon to make sure all of the popcorn is coated.
Grease your hands with margarine and start rolling those popcorn balls. The harder you press, the harder your popcorn ball will be so I always roll them loosely, to make them more chewy.
So roll one, then roll it in the sprinkles, then place it on the wax papered sheet. Keep on rolling until they are done.
These are best stored in a covered container and a good trick to remember is that placing bread in with them softens them right up! So if you notice they are far too hard after one day, place a piece of bread in with the popcorn balls and leave it for half a day or so. They soften up so perfectly!