Drain the hot cherry peppers and reserve the liquid.
Add the drained cherry peppers and 1 teaspoon of the liquid to a food processor along with the red bell pepper pieces, onion, and garlic. Pulse everything in the food processor until it looks like a thick salsa.
Place a medium-sized skillet over medium heat and add 1 teaspoon of olive oil.
Move everything from the food processor to the skillet and saute, stirring for 4 or 5 minutes. Add the sugar, white vinegar, salt, MSG (if using) and continue to cook, stirring often for 20 minutes to reduce some of the liquid.
Remove the pan from the heat and allow everything to cool for about 5 minutes. After the relish has cooled a little you can move it straight to a jar or you can strain it to remove some of the extra liquid. Any excess liquid works great when mixed into a salad dressing.
Store the relish in a jar or sealed container in the fridge for up to 4 weeks.