Prepare your ingredients by chopping the onion and dicing the jalapeño if using.

In a large skillet over medium heat, add olive oil and sauté the onion until translucent (about 5 minutes). Add garlic and cook until fragrant (about 1 minute).

Add ground beef or sausage to the skillet. Cook until browned (8-10 minutes), stirring frequently.

Lower the heat slightly and stir in cubed Velveeta and shredded cheddar cheese. Mix until melted and creamy.

Fold in diced tomatoes with green chiles and jalapeños, allowing to simmer for 5 minutes.

Serve warm, garnished with fresh cilantro, alongside tortilla chips or veggies.