Bring a large pot of salted water to a boil and add the potato cubes. Cook approximately 12 to 15 minutes, until the potatoes are able to be pierced with a fork.
Drain the potatoes and transfer to a large mixing bowl.
For the Dressing
Combine the mayo, greek yogurt, vinegar, sugar, salt and pepper and whisk together until the sugar and salt have dissolved into the dressing. Pour half of the dressing into the warm potatoes and stir to coat. Cover the potatoes and place in the fridge to cool, about 2 hours, or overnight.*Store the remaining dressing covered in the fridge until ready to serve.
Once the potatoes are cooled, stir in the remaining dressing as well as the chopped bell peppers and onion. Stir to combine and serve. Store covered in the fridge for up to 5 days.