Sure!  Just melt about ¼ cup of salted butter in a saucepan, then add about 4 cups of mini marshmallows.  Stir over medium-low heat until almost completely melted, then add the white chocolate and mix until melted.  Stir this into the popped popcorn, mixing until evenly coated.  Form into small balls, then drizzle with the red and blue melted chocolates and decorate as desired.