Step 1: Prepare Your Workspace - Line a large baking sheet with parchment paper and set it aside.
Step 2: Make the Caramel - In a large saucepan over medium heat, combine the light brown sugar, margarine or butter, and light corn syrup. Stir until boiling for about 4-5 minutes.
Step 3: Add the Baking Soda - Remove from heat and carefully stir in the baking soda; the mixture will bubble up.
Step 4: Coat the Cheetos - Pour the warm caramel over the Cheetos in a large mixing bowl and mix quickly until coated.
Step 5: Spread and Cool - Transfer the coated Cheetos onto the prepared baking sheet and spread evenly. Allow to cool for about 30 minutes.
Step 6: Break and Enjoy - Once cooled, break the Caramel Cheetos into clusters and serve.
