I used to think that preparing skinned capsicum took a lot of effort. But once I moved to Argentina I got it served many times (it makes an excellent side dish at their BBQs and other meat dishes) and I found out how easy it really is.
Step 1: Fire!
Take two forks and stick them right into the capsicum, one on each side. Put it directly on your kitchen's gas stove and watch it blacken completely. Use the forks to turn it around. Make sure the bell pepper is completely black all around before you decide to turn off the gas.
Step 2: Cooling Down
Now it's time for the cooling down.
Tap water will do the job. Make sure you rinse the capsicum for a good while, otherwise you'll burn your fingers later...
Step 3: Peel!
Now that the capsicum is not that hot anymore, peel off al the skin. The blacker it is, the easier it peels.
Remove the green top with a knife, cut it open and remove the seeds. Cut the vegetable into slices. It's all smooth and delicious now, but will be even better after you've finished the next step.
Step 4: Finish It Off
Cut some garlic and mix it with a splash of olive oil. Drench the capsicum slices in it. When I made this side dish today I inmediately ate them because the dinner was ready :-)... but, it's better to prepare this a few hours in advance so that the capsicum takes on more of the garlic/oil flavors.