Pop both bags of popcorn and place into a large bowl
In a small pot over medium heat, combine corn syrup, margarine, water, sugar, and marshmallows. Stir until completely melted and let it come to a boil.
Pour the mixture over the popcorn and coat each piece. Add in the candies and stir. (I split mine into two batches so that it would mix easier).
Grease your hands and shape the popcorn mixture into balls.
Wrap or store in an airtight container at room temperature BUT i suggest eating them right away, even when given as a gift (see below)
Optional- place each ball into a cellophane bag and tie it with a ribbon. Pair with other treats in a holiday gift box.