Combine 1/2 cup of water and gelatin in the bowl of an electric stand mixer and allow to sit for 10 minutes.

In a small saucepan, over medium heat, combine sugar, corn syrup and 1/2 cup water and cook until sugar is dissolved. Turn the heat up and cook until the syrup has reached 240°F on a candy thermometer. Cover and remove from heat, allow it to sit for 2-3 minutes before adding it to the gelatin mixture.

On low speed, using the whisk attachment, slow mix the syrup mixture into the gelatin mixture. Turn the mixer to high an whip until it becomes thick and double its size, about 10 minutes. Add vanilla and food coloring and mix an additional 5 minutes on high.

Generously grease a 9x13 glass baking dish with coconut oil (or shortening). Quickly pour the marshmallow mixture into the baking dish.

Allow to sit uncovered, overnight at room temperature until it dries out.

Turn the marshmallows out onto a board dusted with confectioners sugar. Cut them into squares, or use a heart shaped cookie cutter and dust them with more confectioners sugar.