Place the first three ingredients in a small saucepan and stir to combine.
Turn on the heat to medium high and bring mixture to a boil.
Boil approximately 10 minutes until mixture thickens and reaches the hard crack phase (310 degrees on a candy thermometer).
Remove from heat and wait for boiling action to calm down, about a minute.
Pour in food coloring and flavoring oil and whisk quickly to combine, keeping your face away from the steam. Whisk well.
Working quickly, pour the mixture into molds or out on a sheet of aluminum foil that has been dusted with powdered sugar. Sprinkle more powdered sugar on top of the candy.
When candy cools slightly, use a large knife to score it into small bite size pieces. When it cools completely, break into pieces. Store in an airtight container.