Some version of this recipe can be found in almost every church/local organization cookbook from the late 60s and early 70s. Unlike many of the icky sounding recipes in some of those books, these actually taste a lot better than they sound.
I make them for parties all the time, because it's something that everyone (especially kids) seems to eat, and there are rarely leftovers. Most people probably have no idea that the recipe contains grape jelly. You can also use ground beef, but I don't eat/cook red meat so I use turkey.
3 lbs ground turkey
1/2 cup seasoned bread crumbs
2 tsp garlic powder
32 oz jar grape jelly
2 12 oz jars chili sauce
Combine turkey, bread crumbs and garlic powder. From into 1" meatballs and place on nonstick baking trays. Bake in preheated 350 degree oven for 20 minutes. Meanwhile, combine the jelly and chili sauce in a crockpot (or a large pot on the stove). When meatballs are cooked, add them to the sauce mixture and simmer on low for at least 20 minutes.