pimenta, can be used on the stove to spice up food as it's being cooked, or it can stand on the table to allow diners to add to their own taste. It's inexpensive, and it lasts forever without spoiling.
malagueta and camurim. The vendor I bought the chilis from at Fortaleza's central market, Sao Sebastiao, recommended combining these two, as the malagueta would provide the heat, and the camurim would provide the aroma and flavor. You'll also need some small glass bottles, suitable for the size of the chilis. I used recycled Worcestershire sauce bottles, but almost any kind will work. And last, you'll need some liquid to cover the chilis in the bottle. The liquids used most commonly in Brazil are vinegar (white or wine) or cachaça, Brazil's sugar-cane based liquor. I chose cachaça.
In preparing the pimenta, it's best to use rubber gloves whenever handling the chilis. Wash the chilis thoroughly, then pull off the stems, leaving the chilis whole. Pack them into the bottle, filling it completely. Then add the liquid to cover, and cap the bottle. Let stand at least 3 days for flavor to develop before using. As the pimenta is used at the stove or table, the liquid can be replenished.
Incidentally, pimenta makes an excellent gift for a holiday, or as a host/hostess present at a dinner party.