Preheat the oven to 350 degrees. In a Dutch oven or casserole dish that can be covered with an oven-safe lid, combine baked beans, onion, green bell pepper, and sausage links. Season with chili powder, Worcestershire sauce, vinegar, brown sugar, ketchup, garlic powder, and salt. Add cayenne pepper if desired. Mix well.
Cover and place into the oven and bake for one hour at 350 degrees.