Split the contents of the 3.5oz bag Ricos Butter popcorn in two large bowls.
Melt candy pieces according to the instructions on the package in 2 separate bowls. Add food coloring to one bowl of candy and stir.
Drizzle one melted chocolate over the popcorn in the first bowl and toss to coat (use a silicone spatula to ensure you get it all out.) Spread out onto a large serving platter. Immediately top generously with candy sprinkles.
Repeat with the second bowl of candy melts and drizzle over the popcorn and spread that one onto a large serving platter as well. Immediately top generously with candy sprinkles. They will adhere to the melted white chocolate candy.
Finally, toss on the M&Ms. Allow the Popcorn to cool a few minutes before serving.