My mother in law used to make this. I think she got it from a newspaper

Combine Ingredients: In a large bowl, combine the grated sharp cheddar cheese, finely chopped pecans or walnuts, mayonnaise, grated onion, black pepper, and cayenne pepper. Mix well until all ingredients are thoroughly combined.
Mold the Cheese Ring: Pour the cheese mixture into a 5-cup ring mold. Use a rubber spatula to level the surface, ensuring an even distribution.
Refrigerate: Cover the ring mold tightly with plastic wrap and refrigerate for at least 5 hours, or preferably overnight, to allow the cheese ring to firm up.
Unmold: Once the cheese ring is firm, remove the plastic wrap. Place a serving plate or platter on top of the mold. Holding the plate and mold firmly together, flip them over. If the cheese ring doesn’t release easily, place the mold in a pan of warm water for a few minutes to loosen the edges.
Add Preserves (Optional): If desired, pour the strawberry preserves into the center of the cheese ring.
Serve: Serve the cheese ring with crackers or bread. You can also form the cheese mixture into a ball or other shapes if preferred.