Line a baking sheet pan with parchment paper & set aside for later use.
Cook the microwave popcorn according to package directions. Allow to cool slightly, then carefully remove & throw away any unpopped kernels.
Pour the melted candy coating over the popcorn mixture and stir gently until evenly coated.
Quickly transfer the candy mixture to the prepared sheet pan and add the colored sprinkles before the chocolate hardens.
Allow the snack mix to set up for 20 minutes.
Break into smaller pieces and store in a tightly sealed container on the counter.