Place popped corn in mixing bowl; set aside. In small saucepan, over medium-high heat, bring sugar, corn syrup, water, margarine, and salt to boil. Cook, stirring, until sugar dissolves. Cook, without stirring, for ten minutes or until reaches hard-ball stage of 254 on candy thermometer. Remove from heat. Wearing oven mitts to shield against splatters, carefully stir in vanilla extract. Pour over popped corn; using prepared spoon, toss until well coated. Stir in orange gumdrops. Wearing rubber gloves, form into two inch balls; let cool on baking sheet.