Place apricots and water in a small saucepan; cover with water. Cover and let stand 1 hour. Cook over medium heat 10 minutes or until soft.
Place half of apricot mixture in container of an electric blender; process until smooth. Repeat procedure with remaining apricot mixture.
Combine pureed apricots with remaining ingredients in a large bowl, mixing well.
Pour mustard into hot sterilized jars. Cover with metal lids, and screw bands tight. Refrigerate 24 hours before serving. Serve with cold meats.