Cook bacon in medium skillet on medium-high heat until crisp. Remove bacon with slotted spoon. Add bell pepper to skillet. Cook and stir 2 minutes or until tender-crisp. Remove from skillet.
Stir Rice Mix, water and mushrooms into skillet. Bring to boil. Reduce heat to low; cover and simmer 8 minutes.
Return bacon and bell pepper to skillet. Cook, uncovered, 2 minutes or until most of the water is absorbed and rice is tender, stirring occasionally. Remove from heat. Let stand 5 minutes. Sprinkle with green onion before serving.