Preheat waffle iron on medium setting.
Peel potatoes and cut into 2-4 large chunks each (will need to be small enough to fit into the opening on your food processor).
With your food processor set up so that the blade will shred, shred your potatoes.
Remove potatoes from food processor and squeeze with a paper towel until they are dry (remember: the drier the crispier!)
In a small bowl, lightly stir in onion and peppers with a fork. Season potatoes, as desired.
Grease the waffle iron with olive oil. Place potatoes in a mound starting from the center and with a fork, spreading out to the edges. Press lid down.
After about 10 minutes, check waffles. They should be starting to brown. Cook until desired crispiness, then carefully, lift with a fork off of the waffle iron onto a plate! (I have found cutting with kitchen scissors the waffles into fours and lifting each one individually is the safest bet to ensure they do not fall apart during lifting from the waffle iron!)