In the past I ran my own market stall making pesto (8 varieties) from beetroot to the basic basil. Unfortunately due to ever increasing fees and laws, combined with lack of time I decided to finish up. I was doing this before there where so many varieties on the supermarket shelves, I loved it and so did my customers, so much so that I got offered to bottle the product by a company but turned it down. Anyway here is the recipe for the capsicum pesto.
100g Red, yellow or green capsicum
65g Pine nuts
2.5 Garlic cloves
Salt and pepper to taste
So you will need a food processor for this or you can use the pestle and mortar method. This is a similar base recipe as the basil pesto except no basil but capsicum. The colour capsicum you use is based on the desired colour you need. For a cool touch on your dinner party you could make all three the colours will blow your guests minds.
There are also recipes for beetroot and dill pesto, lemon and saffron pesto, sunblushed tomato pesto (taste like bolognaise), pea and mint pesto and basil pesto.