Place wax paper onto a baking sheet. Spread popcorn onto wax paper and spread evenly.
Place one color candy melts into a sandwich bag. Microwave for 60 seconds at 50% power. Knead bag well. If there are still chunks of candy, microwave in 30 second increments at 50% power until smooth. Snip the tip of the bag and drizzle onto popcorn. Repeat with remaining colors of candy melts. Sprinkle with sprinkles. Set aside to harden.
Add pretzels, candies and grahams to a mixing bowl and mix well. Break apart popcorn into small pieces and place into the bowl and mix. Serve.
Store leftover trail mix in a sealed bag or container.