In a proccesor or electic mixer beat together the butter and cheese. Then add 1 cup of flour and mix. In a seperate bowl combine the, salt and black and cayenne pepper. Add to the cheese mixture and beat until blended. Stir in the pistachios.
Turn the dough onto a floured surface and divide in half. Shape each piece into a log and 1 inch across. Wrap in plastic wrap and chill until firm.
Preheat oven to 350 degrees.
Cut the chilled dough into 1/4 slices and place them about 2 inches apart on ungreased cookie sheet. Bake for 10 to 12 minutes, until golden brown around the edges.