In a prepared mixing bowl, combine popcorn, candy coated pieces, and peanuts.
Place margarine and marshmallows in a 4-cup microwave-safe measuring cup.
Microwave on high for 2 minutes or until melted and smooth, stirring once halfway through cooking.
Pour over popcorn mixture; stir quickly to coat.
With buttered hands, quickly shape mixture into balls.
Place on waxed paper. Let popcorn balls stand for 1 hour.
See also:
Popcorn Recipe Collection
Low Calorie Honey Popcorn Balls
Popcorn Balls (Tasty Temptation Recipe)