Prepare popcorn according to package directions. (Microwave popcorn works just fine.)
Use a rolling pin or food processor, finely crush candy the canes. I started out with the plastic bag and rolling pin method, but quickly realized it would be much easier in the food processor.
Melt white chocolate in the microwave or a double boiler.
Place popcorn in a large bowl. Pour melted chocolate over the popcorn, mixing well with a spoon until all is coated.
While the chocolate is still warm, stir in the crushed peppermint.
Spread popcorn out on a baking sheet and allow to cool completely.
Fill a large cellophane bag with the white chocolate peppermint popcorn and tie with a holiday bow and candy cane.
Recipe should yield 2 bags of popcorn or you can do like me - give one bag away and eat the rest.