Peel and chop peaches cutting away any bruised parts. There should be about 6 cups. Sprinkle with sugar and let stand several hours or overnight.

Stir fruit and pour into large (nonreactive) pot. Bring to a full boil, reduce heat and cook at a slow steady boil for 15 minutes.

Add remaining sugar, peppers and vinegar. Bring to a boil, reduce heat and cook at a slow boil for 45 minutes, stirring occasionally. Remove from heat and skim as needed.

Ladle into sterilized jars. Adjust lids and process for 15 minutes in a hot water bath.