In large bowl, mix popcorn and candy-coated pieces. Line large, shallow baking pan with wax paper. Set aside.

Melt white chocolate according to package instructions. Stir in peppermint extract. Pour over popcorn mixture. Toss to coat evenly. Spread in single layer on prepared pan. Sprinkle evenly with red and green sprinkles.

Let chocolate cool and harden completely. Gently break into clusters. Package in cellophane bags with ribbons for holiday gifting.