  We discuss the pair production of charginos in collisions of polarized
photons $\gamma\gamma \to \tilde{\chi}_i^+ \tilde{\chi}_i^-$, ($i=1,2$) and the
subsequent leptonic decay of the lighter chargino $\tilde{\chi}_1^+ \to
\tilde{\chi}_1^0 e^+ \nu_e$ including the complete spin correlations.
Analytical formulae are given for the polarization and the spin-spin
correlations of the charginos. Since the production is a pure QED process the
decay dynamics can be studied separately. For high energy photons from Compton
backscattering of polarized laser pulses off polarized electron beams numerical
results are presented for the cross section, the angular distribution and the
forward-backward asymmetry of the decay positron. Finally we study the
dependence on the gaugino mass parameter $M_1$ and on the sneutrino mass for a
gaugino-like MSSM scenario.
