In a large saucepan heat oil over medium heat. Add onion, sweet pepper, and garlic; cook and stir for about 3 minutes or until vegetables are tender.
Place onion mixture and sausage slices in a 3-1/2- or 4-quart slow cooker. In a small bowl stir together chili sauce, jelly, soy sauce, ginger, and crushed red pepper; pour over mixture in slow cooker.
Cover and cook on low-heat setting for 3 to 4 hours or on high-heat setting for 1-1/2 to 2 hours.
Set cooker on high-heat setting. In a small bowl combine cornstarch and the cold water. Stir cornstarch mixture into mixture in slow cooker. Cover and cook for about 15 minutes more or until thickened. Serve immediately or keep warm, covered, on warm setting or low-heat setting for up to 2 hours. Serve with skewers or decorative toothpicks.