1In a microwave safe bowl melt together the white chocolate and vegetable oil,heat at 30 second intervals stirring after each 30 seconds takes about 1 minute or so until smooth and satiny. Add rum extract and a drop or 2 of gel food coloring; until you get the color you want. Stir well to blend.
2Spray the inside of a brown paper grocery bag with non-stick butter spray. Add popped popcorn, bacon and red hots.
Drizzle 1/2 of the melted chocolate over popcorn in bag. Shake bag vigorously to coat each kernel.
Drizzle in remaining chocolate mixture; and shake again.
3Spread contents of bag onto a parchment covered baking tray with sides.
Spread out evenly on tray and let set to harden.