In medium skillet, heat olive oil over medium heat; cook onion, stirring occasionally, until caramelized – about 10 minutes. Remove from heat; cool completely.
In medium bowl, combine cheese spread and caramelized onions; mix well. Spread on solid crackers; top with crackers with cut-outs.
Convenience tips: Serve any remaining cheese with fresh vegetables or purchased crackers. Omit the caramelized onions and spread sandwich crackers with cheddar cheese or herbed cream cheese spread.