In a medium saucepan, melt butter. Add corn, green pepper, and onion. Cook, covered, for 8 minutes, stirring occasionally. Cool slightly.
In a mixing bowl combine flour, baking powder, salt, and pepper. Add eggs, milk, and hot pepper sauce. Mix well. Stir in slightly cooled vegetable mixture.
In a large skillet, heat cooking oil over medium heat. Drop corn mixture by heaping tablespoonfuls, 4 or 5 at a time, into hot oil. Flatten slightly with the back of a spoon. Cook about 4 minutes or until brown, turning once. (If fritters brown too quickly, reduce heat.) Drain on paper towels. Serve warm with meat or poultry. Makes twelve 3-1/2-inch fritters (6 servings).