Melt the oil, butter and marshmallows in a large pot on the stove- or in a microwave safe container.
While butter and marshmallows are melting, measure and mix the rest of the ingredients: popcorn, peanuts and gumdrops. Grease a bundt cake pan.
Carefully pour the hot liquid over the other mixture and stir well.
Without delay put the mixture in the cake pan. The mixture must be pressed down to alleviate air bubbles.
Refrigerate for 5 hours or overnight.
Allow the cake to sit at room temperature for a few minutes before using a knife to release the sides and flipping the cake over. Slice and serve.
Tips or variations:
If you are looking for a corn free healthier version try using Fiber one cereal in place of the popcorn, substitute almonds for the peanuts and use your choice of oil.
I do not recommend all extra virgin olive oil but have used coconut oil in place of part of the butter!
We use hot air popped popcorn to cut back on the fat.
If you would rather a different shape end result, feel free to experiment with other cooling 'positions". For example, if you want "drop cookies' you can drop the mixture by the spoonful on to a tray to cool. You can also flatten the mixture in a 9x13 for square pieces or flatten on a cookie tray for more bar like pieces.
If you get the large gumdrops you can cut them to make their flavor (and color) be better dispersed throughout the cake.
If you are in a hurry to unmold your cake then set the bottom of the pan in hot water for a couple of minutes.
We use an electric knife
to cut the cake slices.
Use specific colored gumdrops for the holiday. Fall- orange, yelllow, white Thanksgiving- orange, yellow, white, green Christmas-red, green, white St. Patricks-green, white Spring- all colors