Cook green beans in boiling salted water to cover 3 to 4 minutes or until crisp-tender; drain. Plunge beans into ice water to stop the cooking process; drain.
Cook bacon in a large skillet over medium heat 5 to 6 minutes or until crisp. Remove with a slotted spoon, and drain on paper towels, reserving 2 Tbsp. drippings in skillet.
Sauté shallots in hot olive oil and reserved hot drippings over medium heat 8 to 10 minutes or until golden brown and tender. Stir in jalapeño syrup and vinegar. Increase heat to medium-high; add green beans. Sauté 5 minutes or until hot. Add salt and pepper to taste. Toss with bacon. Serve with jalapeños and relish.