Heat wok or 10-inch nonstick skillet over medium-high heat. Add beef and pork; stir-fry, leaving in chunks, until no longer pink, about 5 minutes. Remove meat to plate; keep warm.
Add peas and carrots; stir-fry 5 minutes or until crisp-tender. Mix in stir-fry sauce, water and soy sauce. Return meat to wok; stir about 1 minute or until heated through.
Serve over hot cooked rice, if desired.
