1. Spray medium saucepan with nonstick cooking spray. Heat over medium heat until hot. Cook and stir bell pepper and jalapeño pepper 3 to 6 minutes or until tender. Add the remaining ingredients to pan. Cook over medium-low heat about 8 minutes or until fresh cranberries begin to pop. Cool 15 minutes.
2. Place cooled mixture into food processor or blender container. Cover; pulse on and off until slightly chunky. Season with salt and pepper as desired. Serve at room temperature.
Test Kitchen Tips The relish can be covered and refrigerated for 1 hour and served cold, if desired. It can also be made ahead, covered and refrigerated until just before serving; if desired, the relish can be heated in a medium saucepan over low heat for 5 minutes. Heating may intensify the spiciness of the relish.