1 bag microwave popcorn
1 pkg cheese powder (from mac n cheese box mix)
Pop the popcorn. Place popped corn in large bowl with a cover. Spray with oil (I prefer olive oil spray). Cover with lid and shake to spread the oil evenly. Open, sprinkle with some of the cheese powder. You decide how much to use. About 1/4 of the package will usually be enough, but use as much as you like. Cover and shake. Remove cover and eat.
This is a fun treat for the kids, but be warned. The cheese powder will get all over everything as you eat it.