Preheat the oven to 300 degrees F. Prepare a baking sheet by spraying it with canola spray.
In a large saute pan over medium-low heat, add the butter, pecans and peanuts. Saute until the nuts become fragrant, about 5 minutes. Add the caramel sauce and vanilla extract and continue to cook on low until the caramel begins to thicken, an additional 5 minutes. Next, add the popcorn and stir to coat completely with the caramel sauce.
Remove the popcorn from the heat and spread it into 1 even layer on the prepared sheet. Place the sheet in the oven and cook for 20 minutes. Remove from the oven, sprinkle with the sea salt and let cool. Break up the popcorn with a spoon and serve family style in a large bowl.
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