2 cans water chestnuts
1 lb. bacon
1/2 c. mayonnaise
1/2 c. brown sugar
1/2 c. chili sauce

Wrap water chestnuts in bacon. Hold together with toothpick. Place in pan lined with foil. Combine mayonnaise, brown sugar and chili sauce. Pour over water chestnuts. Bake for 1 hour at 350 degrees. Take out of pan. Drain. Put on a foil lined cookie sheet. (Can be done ahead to this point.) Put back in the oven until browned.