You should have 22 cups onion rings once all are sliced. You should have 6 cups pepper rings once all are sliced.
In large pot, combine vinegar, honey, mustard seeds, allspice, and anise seeds. Bring to a boil uncovered for three minutes. Add onion rings and cook, stirring gentle for 8 minutes or until onion begin to turn limp. Remove from heat, stir in pepper rings.
Add one bay leaf to each 1 pint hot sterlized jars. Using tongs, pack jars with onions and peppers, leaving 1/4" headspace.
Ladle hot vinegar mixture into jars, leaving 1/4" headspace. Make sure bubbles are removed. Wipe rims and add lids.
Process in water bath for 10 minutes. Start timing once water is boiling.