Step 1

Place 1/3 cup cheddar cheese powder, 1 teaspoon hot smoked paprika, 1/2 teaspoon kosher salt, 1/2 teaspoon granulated sugar, 1/4 teaspoon garlic powder, 1/4 teaspoon onion powder, and 1/8 teaspoon cayenne pepper in a small bowl, and stir with a fork to combine.

Step 2

Measure out 1/2 cup popcorn kernels. Heat 3 tablespoons vegetable oil in a large, heavy bottomed pot with a tight-fitting lid, such as a Dutch oven, over medium-high heat until shimmering. Add 2 to 3 of the popcorn kernels. When they pop, add the remaining popcorn kernels. Cover and shake the pot back and forth while the popcorn pops, until the popping slows (there’s no popping for 10 seconds), 6 to 8 minutes total popping time.

Step 3

Pour the popcorn out onto a rimmed baking sheet to cool. Meanwhile, return the pot to medium-high heat and add 6 tablespoons unsalted butter. When melted, add 3 cups Flamin’ Hot Cheetos and toast until fragrant, about 1 minute. Return the popcorn to the pot and remove from the heat.

Step 4

Using a large spatula, toss the popcorn with the buttery Cheetos. Sprinkle with the cheddar cheese mixture and toss until evenly coated. Serve warm or at room temperature.