Put all ingredients in a saucepan over medium heat stirring constantly. Once bubbles break the surface cook for 1 minute or until the mixture starts to thicken. Remove from heat immediately and transfer to a glass bowl. Mixture will continue to thicken as it cools. Serve warm as a dip for plain chips, pour over nachos, have as dip for nachos along with salsa, pour over french fries or you can use it in mac n' cheese.