Combine 1 chopped scallion, 3 dashes hot-pepper sauce and 4 ounces softened cream cheese in bowl of food processor. Whirl until finely chopped.
Add 1/2 cup cubed jalapeno-flavored Monterey Jack cheese, 1/2 cup cubed sharp cheddar cheese and 1 tablespoon lime juice. Pulse until well blended and very smooth. Turn into small bowl.
Cover and refrigerate at least 24 hours or up to 1 week. Serve with assorted crackers.