Bring apricot nectar to a boil in a medium saucepan. Remove from heat; add gelatin, stirring until gelatin dissolves. Cool.
Stir in apricots, buttermilk, and preserves. Fold in whipped topping, and spoon into a lightly greased 9-cup mold. Cover and chill 6 hours or until mixture is firm.
This salad was a bit sweet for just a side dish, but enjoyed by all none-the-less. I substituted peach jello since I couldn't find apricot. Easy and good.