- Prepare the Cheese Mixture: Combine grated cheddar cheese, mayonnaise, chopped onion, and cayenne pepper in a large bowl. Mix well until thoroughly combined.
- Form the Ring: Shape the cheese mixture into a ring on a serving platter. You can use a bundt pan or shape it by hand.
- Add Pecans: Press chopped pecans onto the top and sides of the cheese ring.
- Chill: Cover and refrigerate for at least 2 hours, or overnight.
- Serve: Before serving, spoon strawberry preserves into the center of the cheese ring. Serve with assorted crackers.
Optional: For a decorative touch, pipe a border of cream cheese around the edge of the cheese ring using a pastry bag.