Combine red, green and jalapeño peppers, sugar, vinegar and lime juice in a large saucepan. Mix well.

Place pan over medium heat. Cook until warm and sugar is dissolved.

Remove from heat and allow to cool for a few minutes.

Pour mixture in a blender or food processor. Blend for 5 seconds.

Return blended mixture to the saucepan. Place back over heat and bring to a boil. Skim off any foam that rises to the surface.

Decrease heat to low. Simmer for 5 minutes.

Stir in pectin. Increase heat to medium high and bring to a boil.

Remove from heat and cool. The jelly will set as it cools.

Once cool cover and refrigerate for up to a week.