Preheat a grill.
Cut the corn cobs in half and place on individual foil pieces. Add 1/2 tablespoon Bell Pepper Butter and some salt and pepper to each corn half. Wrap tightly. Grill for 6 minutes, turning halfway through.
Put the butter, bell peppers and black pepper in a food processor and process until combined. Pile the mixture into ramekins and use right away, or cover with plastic wrap and chill until needed.