Prepare the candy corn: Separate the orange and yellow portions of the candy corn by cutting away the white sections. Place the orange and yellow pieces into separate microwave-safe bowls.
Make the orange slime: Add ¾ cup marshmallows and ½ tablespoon vegetable oil to the bowl with the orange candy corn. Microwave for 25 seconds, then stir well. Continue heating in short intervals if needed until melted and smooth.
Carefully stir a few tablespoons of powdered sugar into the orange mixture. Once cool enough to handle, transfer it to a powdered-sugar-dusted cutting board and knead, adding more powdered sugar as needed, until stretchy and less sticky.
Make the yellow slime: Combine the yellow candy corn, ¾ cup marshmallows, and ½ tablespoon vegetable oil in a second bowl. Microwave for 25 seconds, stir, and continue in short intervals if necessary. Mix in powdered sugar, then knead on a dusted cutting board until smooth and stretchy.
Make the purple slime: Combine ¾ cup marshmallows and ½ tablespoon vegetable oil in a third microwave-safe bowl. Microwave for 25 seconds, stirring afterward. Continue in short intervals until melted. Add purple food coloring and stir until evenly colored. Mix in powdered sugar and knead until the slime becomes stretchy and less sticky.
Make the green slime: Repeat the same process with ¾ cup marshmallows and ½ tablespoon vegetable oil in the fourth bowl. Add green food coloring after melting, then mix in powdered sugar and knead until smooth and stretchy.
Combine the colors: Once all four slime colors have cooled enough to handle, place the orange, yellow, purple, and green portions together. Gently twist them into a colorful Halloween swirl.
Stretch and serve: Stretch and play with the slime immediately. If it becomes too firm, microwave it for about 25 seconds, then allow it to cool completely before handling.