Slice corn off of cob and scrape cob to release the milk. Set aside.
Place bacon in a large, deep skillet. Cook over medium high heat until evenly brown. Crumble and set aside.
Retain 2 tablespoons of the bacon grease in the pan and fry pepper until just softened. Add the corn and cook until tender. Stir in the crumbled bacon and cook 1 minute more.