Prepare a 9x13 inch pan by greasing it lightly and dusting with powdered sugar.
In a small bowl, sprinkle the gelatin over 1/2 cup of water and let it bloom.
In a saucepan, combine sugar, corn syrup, and remaining water. Cook over medium heat until sugar dissolves.
Increase heat and bring the mixture to a boil. Cook until it reaches 240°F (firm ball stage).
Remove from heat and add the bloomed gelatin. Stir until dissolved.
Let the mixture cool slightly before adding vanilla extract.
Beat the mixture on high speed for about 10-12 minutes until it becomes thick and fluffy.
If desired, add food coloring and mix until combined.
Pour the mixture into the prepared pan and smooth the top with a spatula.
Dust with powdered sugar and let it set at room temperature for at least 4 hours.