Process jalapeño and bell peppers in a food processor until smooth.
Combine pepper puree, sugar, and vinegar in a nonaluminum saucepan. Bring to a boil over medium-high heat, stirring constantly. Boil 3 minutes; stir in pectin and lime juice. Boil, stirring constantly, 1 minute. Remove from heat, and skim off foam with a metal spoon.
Pour into hot, sterilized jars, filling to 1/4 inch from top; wipe jar rims. Cover at once with metal lids, and screw on bands; cool. Store in refrigerator. Serve over cream cheese with crackers or toast as an appetizer, or with meats as a relish.