Preheat over to 300‡ F.
Place pecans on a small baking sheet and toast in oven for 15 to 20 minutes. Remove from oven and toss with 2 Tbsp taco seasoning; set aside.
In a large bowl of an electric mixer, beat cream cheese, remaining taco seasoning and Tabasco sauce until smooth, about 2 minutes. Add jalapeño, onion, bell pepper and Colby-Jack cheese. Stir to combine. Using a rubber spatula, shape cheese into a large ball.
Place a large sheet of plastic wrap on counter top, sprinkle reserved seasoned nuts over plastic. Roll cheese ball in nuts, coating entire outside of ball.
Bring sides of plastic wrap up around ball to seal. Wrap in additional layer of plastic wrap to seal. Place cheese ball on a plate and refrigerate several hours until firm.
Serve with crackers.
Servings: 12