Grannydragon's Caramelized Onion Dip

Directions

1. 1
   Cut the onions in half, then slice the into 1/8-inch-thick half rounds(You will have about 3 cups of onions.
2. 2
   ).
3. 3
   Heat the butter and oil in large saute pan over medium heat.
4. 4
   Add onions, cayenne, salt and pepper and saute for 10 minutes.
5. 5
   Reduce heat to medium-low and cook, stirring occasionally, for 20 minutes, until the onions are browned and caramelized.
6. 6
   Stir in the balsamic vinegar and thyme and continue cooking until the balsamic has evaporated, about 1 minute.
7. 7
   Allow the onions to cool.
8. 8
   Place the cream cheese, sour cream and mayonnaise in the bowl.
9. 9
   Beat with electric beater until smooth.
10. 10
    Then stir in the onions, by hand.
11. 11
    Taste for seasonings.
12. 12
    Serve at room temperature.
13. 13
    The dip can be made up to this point 3 days ahead; cover tightly, refrigerate.