Measure and set aside all ingredients, ensuring popcorn is evenly spread on a large plate.
Place white chocolate chips in a microwave-safe bowl and heat in 30-second intervals, stirring after each, until smooth and fully melted. The chocolate should be glossy and pourable.
8 cups air-popped popcorn
Pour the melted white chocolate over the popcorn in the large mixing bowl, gently tossing with a silicone spatula until the popcorn is evenly coated with a shiny layer of chocolate.
8 cups air-popped popcorn
Spread the coated popcorn onto a parchment-lined baking sheet, spreading out evenly to prevent clumping. Allow to set for about 10 minutes at room temperature or place in the refrigerator for quicker setting.
8 cups air-popped popcorn
Once the chocolate has cooled and set, gently break the popcorn into clusters if desired. Mix in the red and blue M&Ms along with chopped dried cherries, distributing evenly throughout the snack.
8 cups air-popped popcorn
Serve immediately or store in an airtight container for up to 3 days for a crunchy, colorful snack.