Char the peppers over a flame; place in a bowl and cover to steam until cooled. Peel and seed, reserving the juice.
Melt the butter in a saucepot and cool. Puree three-quarters of the bell peppers in a blender, then dice and reserve the remainder.
Whisk to combine the butter, egg yolks, and bell pepper puree. Mix together the flour and baking powder in a separate bowl. Whisk the dry ingredients into the wet ingredients until smooth, then chill 10 minutes. Whip egg whites until they hold stiff peaks and fold them into the red pepper batter.
Form the smoked salmon into rosettes.
Spoon 1/4 cup pancake batter onto a greased pancake skillet over medium heat. Cook until bubbles start to appear, about 3 minutes, then flip and cook until the bottom is slightly golden, about 3 minutes more.
Top each pancake with 1 tablespoon of the sauce and a smoked salmon rosette. Dollop a dot of creme fraiche in the center of each rosette. Top with caviar and chives.
This recipe has been updated and may differ from what was originally published or broadcast.