Uncooked peppers and garlic in olive oil fizzled when opened
Without further ado, that’s an indication of biological activity. Both garlic and hot peppers are used for making fermented hot sauce, but using specific recipes known to (or designed to) stop pathogen growth. 

I believe your intention was to infuse the olive oil with hot pepper and garlic aroma, it looks like it didn’t go well as some biological activity took place. I don’t think at this point you can be really sure what was growing inside the jars.

Taking the presence of raw garlic into consideration, and the oxygen-free environment created by the garlic being submerged in the oil, I’d be scared of a potential botulism pathogen growth as the olive oil itself won’t be enough to inhibit the growth of such pathogens. And raw garlic can host such bacteria.

And as a general rule:


  When in doubt, you should discard it.