1. Cook onion with oil in a medium saucepan over medium heat until onion is softened and translucent, about 5 minutes.
2. Add garlic, ginger, and peppers. Cook 1 minute, stirring constantly, or until fragrant. Add ketchup, peaches, and preserves. Bring to a boil then reduce heat to low. Simmer for 45 minutes, stirring occasionally. Taste for sweetness – if more sweetness desired, add one tablespoon of light brown sugar.
3. Remove from heat and stir in vinegar.
4. Puree sauce using a hand blender or large blender. Be careful when pureeing hot liquids, be sure to remove inner lid and replace with a few layers of paper towels. Or else the steam will expand and blow your lid off!! Haha, actually it’s no joke.