white chocolate chips or white almond bark
(There aren't specific measurements for this. For this batch, I used three regular-sized bags of butter-flavored microwave popcorn, two bags of white chocolate chips, one jar of peanuts, and one large bag of each kind of M&M's.)
Pop popcorn. Meanwhile, melt chocolate or almond bark in a saucepan over a larger pan of boiling water. Dump popcorn into LARGE container (I've used garbage bags when I'm making a really big batch--you need room for it to be able to really move when you shake it). Combine all the ingredients in the container with the popcorn and shake the heck out of it. You might have to stir, too. Lay out on baking sheets, foil, or wax paper to dry. Enjoy!