Melt butter in large saucepan over low heat. Add marshmallows. Stir 7 to 8 min. until completely melted. Mix in vanilla and green food colouring. Remove from heat. Immediately stir in popcorn until coated.
Method 1: Using wet hands or buttered spatula, spread popcorn mixture onto parchment lined-baking sheet into slab about 1-in. (2.5 cm) thick. Bake at 350°F (180°C) 5 min.; cool completely. Break into smaller pieces for serving.
Method 2: Cool popcorn mixture slightly. Using wet hands, working quickly, shape popcorn into 16 balls. Insert a lollipop stick into each ball.
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