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Line a large baking sheet with parchment paper or a silicone baking mat. Set aside.
Pop 10-12 cups of popcorn and pour it into a large bowl. Toss in the peanuts. Set aside.
Over medium heat, warm the honey and sugar together in a medium sized saucepan. Stir occasionally. Once it begins to bubble, allow it to boil for about 3 minutes. Add the salt and peanut butter and stir until smooth. Remove from heat.
Pour the peanut butter mixture over the popcorn/nuts. Toss gently to coat practically every kernel. The popcorn will form large clusters. Spread the popcorn onto prepared baking sheet and allow to cool for about 10 minutes before serving.
Makes 10-12 cups. Popcorn remains fresh for up to 10 days covered at room temperature. If storing in a tight container, be sure to break up the popcorn as you serve it because it will form large clusters.