In a saucepan mix the honey and brown sugar. Bring to a boil while stirring then add peanut butter and vanilla. Stir until well combined.
Place the popcorn into a large bowl and pour hot mixture over it and stir until it is well coated.
The popcorn mixture will be hot but as soon as your hands can take the heat begin forming it into softball sized balls by compressing the popcorn tightly with your hands and placing them on a wax or parchment paper lined cookie sheet. Once all balls are formed, put the cookie sheet into the fridge to cool.
(it doesn't take long but they can be left over night, it doesn't really matter).
To keep little hands from getting too sticky, shove a stick into each ball after it has cooled.