I let mine go until they are red ripe (this is what Sriracha Sauce uses) then I make hot sauce.
Just today I made a batch.
I went out to the garden and picked 18 ripe Jalapeño's and since I had three ripe Sandia peppers (slightly hotter than Jalapeño's) I grabbed them also:
I cleaned, de-stemmed, and sliced the peppers into 1/8" slices.
I then dumped them in a large skillet and I added 2.5 tbsp of fresh minced garlic, 1.3 cups of fresh chopped onions, 1.3 tsp salt, 2 tbsp veggie oil, and sauteed over high heat for six minutes.
After that I added 3.5 cups of water, turned the heat down a bit and simmered about 35 minutes or until the water was just about gone:
Then I let it come to room temperature and put the mix into a food processor and pureed it:
Then I added 1.75 cups of white vinegar and mixed it up well:
Next I strained it through a fine mesh strainer:
Then poured into a couple of canning jars and sealed them up:
I let this sit for about a week in the refrigerator to let the flavors blend and then I freeze it until it's needed.
This will probably last about 4 to 6 months in the refrigerator unfrozen.
Tastes great and you can adjust the flavor to your liking by changing the pepper types, vinegar, or salt amount.