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1
In a large skillet over medium low heat, melt the butter and olive oil.
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2
Add the onions, cayenne, black pepper, salt and sugar.
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3
Cover and cook for 45 minutes.
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4
Go take a shower or set up for your party.
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5
I promise the onions wont burn.
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6
After 45 minutes, remove the lid and give the onions a stir.
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7
At this point there will be a lot of moisture in the pan and the onions wont be very dark in color.
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8
Keep the lid off and continue to cook over medium heat, stirring occasionally, until the onions are very dark brown.
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9
You dont want onion liquid remaining because it will keep the onions from browning, but you want there to be some fat hanging out in the pan.
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10
If the onions start to look dry, add more olive oil or butter.
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11
Set aside.
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12
In the work bowl of a food processor, blend together the cream cheese, mayonnaise, and sour cream (or Greek yogurt) until smooth.
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13
Add 1/2 of the caramelized onions and blend until smooth.
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14
Add the other 1/2 of the onions and any of the fat hanging out in the pan and pulse to combine.
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15
Garnish with chives if desired.
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16
Serve immediately or refrigerate for up to 2 days.
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17
Allow to sit for 30 minutes before serving if its been refrigerated.
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18
Serve with Kettle Chips (you need a strong chip here), or vegetables if youre feeling virtuous.