Cook bacon strips to preferred doneness. Pat off excess grease and set aside.
Dispose of most of the grease from the pan that the bacon was cooked in.
Saute the red onion slices in the left over bacon grease and set aside.
Using the same pan (add butter/oil if there is not enough bacon grease left), cook the two eggs over easy.
While the eggs are cooking, place the contents of each package of grits into two separate microwave safe bowls. Follow directions for cooking the grits.
When the grits are done cooking in the microwave, place one of the over easy eggs in each bowl. Top with three strips of bacon (cut if desired), the sauteed onions, and 3 to 4 semi-thick slices of cheddar. Serve hot.