Heat the sugar and water over medium-high heat, stirring frequently until the sugar dissolves and the mixture becomes a clear syrup. Add the food coloring and stir until the color is fully blended.
Pour the syrup over the popcorn in a large bowl and toss until all the popcorn is evenly coated.
Mix in the broken pieces of Circus Animal Cookies.
In a separate pot, melt the butter over low heat. Add the marshmallows and cook, stirring continuously, until they’re fully melted.
Pour the melted marshmallow mixture over the popcorn and cookies. Stir everything together thoroughly, then, with gloves on, shape the mixture into 12 popcorn balls.