Heat the oil in a 12-inch skillet over medium-high heat. Add the chicken and cook until well browned, stirring often.
Stir the pepper and onion in the skillet and cook until they're tender-crisp. Stir the picante sauce in the skillet and cook until the mixture is hot and bubbling.
Spoon about 1/2 cup chicken mixture down the center of each tortilla. Top with additional picante sauce. Fold the tortillas around the filling. Serve with the guacamole, if desired.
Serving Suggestion: Serve with a Spanish-flavored seasoned rice mix. For dessert serve flan.