Combine the gelatin and 1/2 cup of cold water in the bowl of a stand mixer fitted with the whisk attachment.
Allow the mixture to bloom while you make the marshmallow syrup.
In a medium saucepan, combine the sugar, corn syrup, salt, and 1/2 cup water.
Cook over medium heat until the sugar dissolves.
Raise the heat to high and cook until the syrup reaches 240 degrees on a candy thermometer.
Remove from the heat.
Slowly pour syrup into the dissolved gelatin in the mixer bowl.
Turn the stand mixer to high speed and whip until the mixture just starts to thicken but still a bit loose. This will take about 10 minutes.
Add the vanilla and mix for 30 more seconds.
Immediately transfer the marshmallow mixture to large piping bag fitted with the 1 A tip and large coupler.
Quickly pipe a 2" line of marshmallow pulling back towards the front and away quickly at the end. This forms the body and the tail of the peep.
Place the tip over the front of the peep body, opposite the tail that was just formed. Gently squeeze to build up the head of the peep. When the marshmallow mound spreads just a bit, stop squeezing and pull the marshmallow forward (away from the peep tail) just past the body to form a beak.
Repeat, and continue forming the Marshmallow Peeps until you are out of the marshmallow mixture.
Use a spoon to Cover your peeps in the Sparkling Colored Sugar.
Use the black food coloring gel and a toothpick to add eyes to your peeps.
Let the Peeps set for 30 minutes before eating or packaging.