On medium heat, warm the oil in a wide saucepan. Add kernels, and shake the pan to coat the kernels with oil.

Cover the saucepan, and wait 2-3 minutes. Then, right before the kernels begin to pop, add the powdered sugar, and shake to coat the kernels. Re-cover, and wait for the popping to begin! Continue shaking the pan so that the kernels don’t burn, but don’t uncover! Turn the heat down if you feel the popcorn is burning.

Once the kernels are popped, remove the popcorn from the saucepan and place into a large mixing bowl. Drizzle the frosting over the top, and use a large wooden spoon to stir. Top with sprinkles, and serve in popcorn boxes!