Remove stems, veins and most of the seeds of the bell and jalapeño peppers. Mince peppers in a food processor. In a 5-quart pot over high heat, combine bell peppers, jalapeño, sugar and vinegar. Bring to a rolling boil; boil for 3 minutes. Remove from heat and cool for 5 minutes.
Stirring constantly, add the pectin and let mixture continue to cool for 2 minutes more. Now stir for 1 minute.
Pour into hot, sterilized jars and top with sterilized lids. Secure lids with bands and allow jars to cool slowly, creating a vacuum seal.
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