In a small bowl, pour white chocolate chips and microwave in 30 second increments stirring in between until smooth.
Pour in vegetable oil and mix until combined to make mixture smoother, and easier to pour.
Pour half the melted chocolate in a small bowl, and mix in red velvet cake mix until smooth. Pour over the popcorn and mix so the red velvet mixture evenly covers the popcorn (it may be slightly clumpy, but that is fine).
Spread the red velvet covered popcorn out on a piece of parchment paper or aluminum foil.
Drizzle the remaining half of the white chocolate over the red velvet popcorn. Wait until hardened, then break into smaller chunks and serve.
Notes
You could make this recipe, using other flavors of cake mixes.