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Ridiculously addictive, it’s the only onion dip you’ll ever need.
In a large skillet over medium low heat, melt the butter and olive oil. Add the onions, cayenne, black pepper, salt and sugar. Cover and cook for 45 minutes. Go take a shower or set up for your party. I promise the onions won’t burn.
After 45 minutes, remove the lid and give the onions a stir. At this point there will be a lot of moisture in the pan and the onions won’t be very dark in color. Keep the lid off and continue to cook over medium heat, stirring occasionally, until the onions are very dark brown. You don’t 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. If the onions start to look dry, add more olive oil or butter. Set aside.
In the work bowl of a food processor, blend together the cream cheese, mayonnaise, and sour cream (or Greek yogurt) until smooth. Add 1/2 of the caramelized onions and blend until smooth. Add the other 1/2 of the onions and any of the fat hanging out in the pan and pulse to combine.
Garnish with chives if desired. Serve immediately or refrigerate for up to 2 days. Allow to sit for 30 minutes before serving if its been refrigerated. Serve with Kettle Chips (you need a strong chip here), or vegetables if you’re feeling virtuous.
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