Place a mason jar (without the lid) into a large pot of water. Bring to a boil and sterilize it for about 10 minutes before removing with tongs.
Cut off the the tops of the banana peppers and serrano and remove the seeds. Slice into rings. Pack them in the mason jar.
Create the brining liquid by bringing the water, vinegar, and spices to a boil in a saucepan. Simmer for about 5 minutes, then remove from heat.
Use a funnel to pour the brine liquid over the pepper mix.
Seal the mixture and allow to cool at room temperature for about 2 hours. Refrigerate for 2-3 days to allow the flavors to infuse and let the pickled flavor develop.
Remove from fridge and use a blend until smooth.
Adjust to taste or thickness if needed, add into hot sauce bottles, and consume within a month.