Heat skillet with 2 tbsp butter, 1 tbsp olive oil, and 3 cloves minced garlic on medium-high heat.
Slice the red onion, red, orange and yellow bell pepper into strips.
Add the red onion, red, orange and yellow bell peppers to the skillet when the butter has melted.
Add the 4 tsp chili powder, 2 tsp ground cumin, 2 tsp paprika, 1 tsp garlic powder, 1 tsp onion powder, and 1/4 tsp cayenne pepper to the skillet.
Mix all the ingredients together.
Saute the vegetables for 10 minutes.
Cover with a lid and reduce heat to low.
Let the vegetables simmer for 5 minutes.