In a bowl combine cornmeal, Cheddar, onion, bell pepper, salt, and cayenne. Stir in boiling water and mix thoroughly. In a deep heavy pan or deep fryer heat 3 inches of vegetable oil to 350 F. Drop 6 spoonfuls of the batter into the oil and fry for 2 to 3 minutes or until golden brown.
Transfer fritters to paper towels to drain.
Season with additional salt if desired. Serve warm with hot sauce.