Combine caramels and whipping cream in a glass bowl. Microwave on high for 3 minutes or until melted, stirring mixture once. Put popcorn and peanuts in a large bowl. Drizzle with caramel sauce, tossing gently to coat. Pout popcorn mixture on a lightly greased 15x10 jelly roll pan. Bake at 250F for one hour. Cool.