Divide meat into two bowls. In one, mix in the cheddar cheese. In the second bowl, mix in the cream cheese.
Cut open your sweet peppers and halve them lengthwise.
Fill with each of the fillings.
If using bacon, you will need small, sweet peppers. Cut the strip in half and stretch it around each pepper. Be sure to stretch so you can cover pepper, but also to get a thin layer of bacon so that it crisps quickly. Place wrapped pepper on a foil-lined baking pan and broil for 15 minutes or until bacon is crisp.