Place the peppermint candies in a large resealable plastic bag. Crush with a rolling pin until you have a mix of smaller chunks and crumbs. Set aside.
Place the white chocolate chips and coconut oil in a microwave-safe bowl. Microwave in increments of 15 to 30 seconds (this will depend on your microwave), stirring after each, until completely melted and smooth.
Place the kettle corn in a large bowl. Pour the white chocolate mixture over the popcorn and fold with a spatula until evenly coated. Transfer the popcorn to the lined baking sheets in a single layer. Working quickly, sprinkle the popcorn with the crushed peppermint candies, mini chocolate chips, red and green sprinkles and red and green sanding sugar. You can you use more or less of each topping based on what you like.
Allow the popcorn to dry to the touch, about 15 minutes, before packing in bags as gifts or storing in an airtight container.