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Preheat the oven to 250 degrees F (120 degrees C). Grease two rimmed baking sheets. Place 1/2 of the popped popcorn and 1/2 of the peanuts onto each prepared baking sheet.
Bring brown sugar, margarine, corn syrup, and salt to a boil in a saucepan over medium heat, stirring occasionally to blend. Once boiling, boil for 5 minutes, stirring constantly.
Remove from the heat and stir in vanilla and baking soda; mixture will be light and foamy. Immediately pour hot liquid over popcorn and nuts. Stir until pretty well coated.
Bake in the preheated oven for 1 hour, removing the pans and giving them each a good stir every 15 minutes.
Line your countertop with waxed paper. Remove popcorn and nuts from the oven; dump onto waxed paper and separate any large clumps. Allow to cool completely.
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