Preheat grill to medium-high heat. In a small bowl, combine cream cheese, crumbled bacon, and shredded cheddar cheese. Mix thoroughly. Cut a lengthwise slit down each pepper, leaving the stem intact; remove membranes and seeds. Fill each pepper with 1 tablespoon cheese mixture. Place stuffed jalapenos on a foil pan. Grill, covered, over indirect medium-high heat for 8-10 minutes or until peppers are tender and cheese is melted. Serve warm.
If you prefer your peppers hot, mix a few of the jalapeno seeds into the cream cheese mixture.