Caramel Popcorn

3 bags of microwave popcorn popped, all poured into a large bowl. **When opening the bag of popped popcorn, I try to keep the grandma kernels from falling into the bowl.**
1 large jar of peanuts (or almonds or mixed nuts) optional

In a medium sauce pan on medium heat, melt & bring to a boil:
1 cup Karo
½ cup butter (has to be butter or REAL margarine, I use butter)
2 cups packed brown sugar
1 can sweet and condensed milk

While caramel is melting, stir constantly to prevent burning. Once caramel has reach a rapid boil, continue stirring for 5 minutes more over medium/low heat. Remove from heat. Pour caramel over popcorn. Stir and mix until caramel is evenly distributed. (If you are making popcorn balls, let boil for another 5 minutes (10 minutes total). The longer you let the caramel boil, the harder it will be once cooled-fyi.)