Chop up the serrano peppers. Put the red serranos and chili piquenos in the food processor or blender. Put the green ones in a Mason jar. Cover the green chilis with vinegar and a little salt and store in the refrigerator. Lisa suggested putting some green beans in with the pickled peppers for a hot and tasty snack.
Add vinegar and salt to the red peppers (2 tablespoons salt per every 1/4 cup of vinegar) and process until the peppers are pureed. A blender works better, but I burned mine up this spring, so I had to use the food processor. Add additional vinegar to the peppers if needed. The sauce should be thin enough to poor easily. You DO NOT want this stuff thick. I know that is a lot of salt, but this is a condiment, not a dip. This sauce can also be made with habaneros and scotch bonnets or a mix of all these peppers. I use whatever is ripe. If you use habaneros the sauce will be orange instead of red.