Heat butter and oil in a large skillet over medium heat. Add mushrooms, onion and garlic; cook 5 minutes or until onions are translucent. Stir in rice; cook 1 to 2 minutes or until partly translucent.
Add saffron, if desired. Add 1/2 cup of the hot broth and TABASCO® Sauce, stirring constantly until rice absorbs broth. Add remaining broth and hot water, 1/2 cup at a time, stirring constantly from bottom and sides of pan. (Wait until rice just begins to dry out before adding more liquid.)
Cook and stir until rice is tender but firm to the bite and risotto is consistency of creamy rice pudding. (The total amount of liquid used will vary. Watch rice carefully to ensure proper consistency.) Total cooking time is about 30 minutes. Stir in artichokes and roasted peppers. Serve with additional TABASCO® Sauce, if desired.
Makes 6 servings.
*To roast peppers, hold over source of heat with fork until skin blisters. Cool slightly; peel and chop.