This recipe is super simple, and very versatile. I've modified it a little bit from the original recipe, so I reproduce it below, with pictures! Please note that I have followed the original recipe exactly before, and it works super fine.
nacho cheese dip, originally from schmooed food.
ingredients
one and a half cups of water
one third of a cup of raw cashews
four or five cherry peppers (or pimentos, I found this in the jar section of my IGA)
1 approximate cup of savoury yeast flakes
1 tablespoon cornflour (make sure this is gf!)
1 tablespoon lemon juice
half teaspoon salt
half teaspoon onion powder
half teaspoon garlic powder
lots of cumin, four or five shakes
method
Take the stems off the peppers, but keep the seeds in. This adds a nice bite! You don't need to measure out everything in advance, but with this recipe I like to, to make sure I have everything I'm supposed to have.

Then blend it all together! I like to blend the cashews first, to ensure that they're smooth, before adding the rest all at once.
After blending, dump the whole mixture into a small saucepan and stir constantly over medium heat for about five minutes. I like to use a fork for this, but a wooden spoon would be okay also.

After simmering, it should have thickened a bit. Remove from the heat and leave to cool, and it will thicken a bit more! If you find that it is too thick, then add a bit more water during blending or simmering stages. I, however, wanted it thick more like a spread so that I could use it for:

Vegan toasted cheese sandwiches, and pizza pinwheels! This was my first vegan cheese toasted sandwich attempt, and it was awesome! The cheese went perfectly - so perfectly in fact that I am thinking about making another lot of it this afternoon to keep in the fridge for emergency sandwiches during the week!