Preheat oven to 350 degrees F (175 degrees C). Line a large roasting pan with aluminum foil.
Shape ground beef into golf-size balls. Place on prepared roasting pan for 20 to 25 minutes until done.
Meanwhile heat the jelly, chili sauce and mustard together in a 2 quart Dutch oven. Drain and add meatballs to the Dutch oven. Cover and simmer on low for 1/2 hour. Serve hot in chaffing dish with toothpicks.