Cut chicken into bite-size pieces. Add oil to pan and heat up on medium high heat. Add chicken to pan and cook until it turns white. While chicken is cooking prepare seasoning sauce; combine water, sherry, soy sauce, vinegar, and cornstarch. Blend and set aside.
Now add green pepper and peanuts to the chicken and stir fry for about 1/2 minute. Add green onions, garlic, ginger, and red pepper; stir fry for 1 minute. Add seasoning sauce and bring to a boil then turn heat down. Cook until green peppers are to your desired taste and the sauce has thickened. Remove from heat and serve over basmati rice or any rice of your choosing.
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