Jar your extra peppers. Jalapenos, either whole or cut into large rings, pickle very nicely, and you can add color with the red cayannes cut into pieces. I also like to add diagonally sliced carrots and celery for more color (and they absorb the heat of the peppers, too!). Here's the recipe I've been using (which I had lost, but someone was nice enough to post it here for me).

Don't be intimidated by the whole concept of canning. It's really VERY easy, just make sure you follow basic safety steps. I also like to use little jars (4 or 8oz Jelly Jars), this way I have lots to give to friends (makes a neat little XMas gift!)

4 qts. pepper
1 1/2 cups canning salt
4 qts, water
1/4 cup sugar
2 tbsp. prepared horseradish
2 cloves garlic
10 cups vinegar
2 cups water

Dissolve salt in 4 qts. water, cut slits in peppers, and pour salt water over and soak 12 to 18 hours. Drain, rinse, and drain throughly. Combine remaining ingredients in large sauce pan and simmer 15 minutes. Remove garlic. Pact peppers in hot jars, leaving 1/4 inch head space. Bring pickling liquid to a boil. Pour hot liquid over peppers, leaving 1/4 head space. Remove air bubbles. Adjust caps. Process half pints and pints in boiling water bath for 10 minutes.