In a small sauce pan add olive oil, red pepper, and white onion. Saute for about 10 minutes or until onions are transparent.
In a small pot heat vegetable broth. Add the sour cream and cream cheese and whisk until completely melted. Next add Daiya Cheddar Style Shreds and whisk until it is completely melted. Add hot sauce, black pepper, cayenne pepper, green onions, white onions and red pepper.
Let simmer on the stove for 5 minutes to cook in the flavor while continually stirring. Serve warm.