In a small bowl, blend ranch dressing mix, spice mix, garlic powder, powdered sugar and cayenne pepper. Sprinkle with vegetable oil and blend until well incorporated.
Place popcorn in a serving bowl and spray lightly with cooking spray. Sprinkle seasoning mix over popcorn to taste and toss. Store leftover seasoning mix in an airtight container for future use.
Linked up at Made From Scratch Tuesday: http://messhalltobistro.blogspot.com/2012/01/made-from-scratch-tuesday-131.html