Pop the popcorn and set aside. You can do this on the stove or in the microwave. If you use microwave popcorn, try to use a variety that does not have added butter or salt as this will affect the flavor of the recipe.
Line 2 large baking sheets with parchment paper.
In a medium saucepan over medium heat, combine the water, butter, sugar and salt, stirring until dissolved. Bring the mixture to a boil and boil for about 4 minutes, stirring occasionally.
Remove from heat and let sit for about 30 seconds, or until it stops bubbling.
Add Kool-Aid mix to the mixture and stir until well combined.
Place the popcorn in a large bowl (or 2 large bowls if necessary) and pour the mixture over the top. Make sure to continuously mix the popcorn while pouring so that the popcorn can get evenly coated.
Keep stirring until all of the popcorn is evenly coated. Spread popcorn onto the parchment lined baking sheets.
Place the chocolate chips and shortening in a small bowl and microwave for 30 seconds. Stir and microwave for another 30 seconds. Stir again until completely melted and smooth. Drizzle over popcorn and let the chocolate cool and harden before breaking it all up and storing in an airtight container. Or just eat it immediately- that works too!