Add peppercorns, salt, mace, wine, vinegar or lemon juice, sherry, and Tabasco sauce to the hot oyster liquor; simmer over low for 10 minutes. Remove pickling sauce from heat and let cool.
Put the cooked oysters into a quart container with a lid, then pour the cooled pickling sauce over.
Cover tightly and refrigerate at least 24 hours before serving to allow flavors to blend.
Will keep in the refrigerator up to 5 days.