Using gloves, remove the stems from the chilies. Gently roll the peppers between your hands to remove the seeds.
Heat a skillet over medium-high heat. Add the peanuts, pumpkin seeds, and sesame seeds and toast until fragrant, (about 2 minutes). Transfer to a bowl.
In the same skillet, add ½ cup oil and the garlic, cook until fragrant and lightly browned, (2–3 minutes). Be careful not to burn. Pour the mixture into the bowl with the nuts and seeds.
In the same skillet, add the remaining ½ cup oil and the chilies. Cook until they start to darken, (2–3 minutes).
Put all the ingredients in a blender and blend until smooth. Store in a glass jar in the refrigerator for up to 2 weeks.