In a saucepan, cook hamburger (or sausage) until fully cooked.
Drain grease, and then add cut up hot dogs, onion, and bell pepper. Cook for an additional 5 minutes on medium heat.
In a casserole dish (4 x 6 works well), put baked beans and ketchup together and mix well.
Add hamburger, hot dogs, onion, and bell pepper and stir until uniformly mixed in the dish.
Take the uncooked bacon and lay them over the top of the dish side by side until dish is completely covered.
Note: If you are using shredded cheese, wait until the last 10 minutes of baking to add. If you cut up block cheese instead, go ahead and cut in thick pieces and add before putting in the oven.
Preheat oven to 350 degrees.
Once preheated, put dish in oven uncovered for 30-40 minutes.
The cheese should be slightly brown around the edges and the beans should be boiling slightly when dish is taken out of the oven. Reheats very well after being refrigerated.