In a 6- to 8-quart Dutch oven, brown half the beef in the hot oil; remove meat from Dutch oven using a slotted spoon. Add remaining meat, onion, sweet pepper, 2 serrano peppers, 2 jalapeno peppers, habanero pepper, and garlic to Dutch oven. Cook and stir until meat is brown and onion is tender; drain off fat. Return all meat to Dutch oven.

Stir in tomato sauce, undrained tomatoes, kidney beans, undrained chili beans, tomato puree, chili powder, black pepper, crushed red pepper, salt, cayenne pepper, and habanero powder. Bring to boiling; reduce heat. Stir in pepperoni and mushrooms. Simmer, covered, for 1 hour, stirring occasionally. If you like garnish each serving with additional jalapeno and/or serrano peppers. Makes 10 servings.

Because hot chili peppers contain volatile oils that can burn your skin and eyes, avoid direct contact with chiles as much as possible. When working with chile peppers, wear plastic or rubber gloves. If your bare hands do touch the chile peppers, wash your hands and fingernails well with soap and water when you are done.