1In 3-quart saucepan, cook marshmallows and butter over medium heat, stirring constantly, just until marshmallows are melted. Remove from heat. Stir in food color.
2Stir in popped popcorn until evenly coated. Cool 5 minutes.
3With buttered hands, shape 1 cup mixture into heart shape. Repeat with remaining mixture. Wrap each heart in plastic wrap.