Preparation:
In A Medium Saucepan Over Medium Heat, Cook And Stir The Dried Chipped Beef In Butter Until Evenly Browned.
In A Medium Bowl, Whip The Cream Cheese, Horseradish, Green Bell Pepper, Red Bell Pepper And Pepper Until Well Blended. Mix In 2/3 Of The Beef. Roll Into A Ball.
Roll The Ball In The Remaining Beef And The Cheddar Cheese. Wrap In Plastic And Chill In The Refrigerator At Least 1 Hour Before Serving.
