Preheat your oven to 250°F (120°C) and line a large baking sheet with parchment paper.
In a large saucepan over medium heat, combine light brown sugar, margarine or butter, and light corn syrup. Stir continuously until it boils, then boil without stirring for 4-5 minutes.
Remove from heat and stir in baking soda, which will cause the mixture to bubble.
In a large bowl, add crunchy Cheetos and pour hot caramel over them. Stir gently to coat.
Spread coated Cheetos on the prepared baking sheet and bake for about 30 minutes, stirring every 10 minutes.
Once baked, cool completely on the baking sheet, then break apart and serve.
