Preheat oven to 400 degrees. Coat squash in ghee or coconut oil, salt and pepper. Bake for up to 1 hour or until the squash can easily be pierced with a pairing knife. Remove from the oven to cool. Scrape out flesh with a fork.
Add vinegar, peppers, and squash flesh to food processor and blend until a chunky tapenade forms. Season with salt and pepper.
Transfer to a Vitamix and blend to a smooth ketchup-like consistency.