This Baked Caramelized Onion and Bacon Dip is a labor of love and worth every minute. Creamy, cheesy, and full of bold flavors. This dip is insanely delicious and essential for every spread.
Make caramelized onions. Peel and chop onions. Melt butter and olive oil in skillet over medium heat. Cook onions for 5 minutes until they soften and become translucent. Add a pinch of granulated sugar and keep cooking, stirring often. After about 15-20 minutes the onions will start to develop a nice golden brown color once they lose most of their moisture. Turn down the heat to a med-low and continue cooking for another 15-20 minutes until the onions start to give off a nutty aroma. Deglaze pan with red wine and cook for another 2-3 minutes until wine reduces.
While the onions are cooking, make the bacon. Crumble and set aside.
In a medium bowl, mix together shredded cheeses, sour cream, greek yogurt, salt/pepper, red pepper flakes, and thyme. Add caramelized onions and stir until combined.
Transfer to a cast iron skillet or shallow baking dish. Bake for 20-25 minutes or until cheese is melted and the top of the dip is golden brown.