Prepare an 8x8 inch baking dish by greasing it and dusting with confectioners' sugar.
In a small bowl, sprinkle gelatin over 1/2 cup of water and let it bloom for about 10 minutes.
In a saucepan, combine sugar, corn syrup, and remaining 1/2 cup of water.
Heat the mixture over medium heat until the sugar dissolves.
Bring to a boil and cook until it reaches 240°F (soft-ball stage).
Remove from heat and add the bloomed gelatin, stirring until dissolved.
Add vanilla extract and any desired food coloring.
Using a mixer, whip the mixture on high speed for about 10 minutes until fluffy and thick.
Pour the mixture into the prepared pan and smooth the top.
Dust the top with confectioners' sugar and let it set for at least 4 hours or overnight.