Line sheet pan or large cookie sheet with Silpat or parchment.
Add popcorn to large bowl. Lightly spray with Color Mist, stirring and spraying, until desired color.
Spread on sheet pan with cereal, pretzels, and peanuts.
Melt Candy Melts in individual measuring cups or bowls in microwave at 50% power in 1 minute invervals, stirring after each minute, until smooth.
Drizzle first color over popcorn mixture, top with half of the candies. Drizzle with second color of chocolate, top with remaining candies. Finish with sprinkles. Let stand 10 minutes or until set. Break into pieces.