In a 6- to 8-quart stainless-steel, enamel, or nonstick heavy pot, combine the water, vinegar, sugar, lemon juice, and salt. Bring to boiling over medium-high heat, stirring constantly until sugar and salt dissolve. Add beans; return to boiling. Boil for 1 minute. Drain beans, reserving the liquid. Return reserved liquid to the pot. Return to a simmer; cover.
Pack hot beans lengthwise into four hot, sterilized pint jars, adding two of the bay leaves, 1 teaspoon of the peppercorns, and two strips of the lemon peel to each jar.
Pour boiling liquid over beans in jars, leaving a 1/2-inch headspace. Remove any air bubbles from jar.
Process filled jars in a boiling-water canner for 10 minutes (start timing when water returns to boiling). Remove jars from canner; cool on wire racks.