1. Combine water, corn syrup, sugars and salt in heavy saucepan.

2. Cook, stirring constantly, until mixture comes to a boil.

3. Wash down sides of pan. Cook, without stirring, to soft ball stage.

4. Add peanuts slowly, stirring constantly.

5. Cook to 302 degrees; remove from heat.

6. Add butter; stir until melted. Add soda and vanilla.

7. Pour over popped corn that has been kept warm in a 200 degree oven.

8. Spread quickly onto cookie sheets.

9. Separate with forks.