Combine water, vinegar, jalapeños, garlic, paprika, and salt in a small saucepan over medium-high heat. Bring to a boil, then reduce heat; simmer for 10 minutes. Remove from heat.
STEP 2
Transfer mixture to a blender. Add apricot preserves; purée until smooth. Cool sauce.
STEP 3
Pour sauce into a glass jar with a lid. Store in the refrigerator.