Combine the peppers, garlic, onions, salt and oil in a nonreactive saucepan over high heat. Saute for 3 minutes. Add the water and continue to cook, stirring often, for about 20 minutes. Remove from heat and allow to steep until mixture comes to room temperature. In a food processor, puree the mixture for 15 seconds, or until smooth. With the food processor running, pour the vinegar through the feed tube in a steady stream. Pour into a sterilized pint jar or bottle and secure with an airtight lid. Refrigerate. Let age at least two weeks before using. Can be stored in the refrigerator up to 6 months.
Yield: 2 cups