Fry the bacon in a medium-size sauté pan over medium-high heat until just crispy, and drain on paper towels. In a medium-size saucepan combine the milk, salt, cayenne, and butter and bring to a boil. Add the grits and reduce the heat to medium. Stir for 30 seconds, then add the cheese and stir until the cheese melts. Stir in the bacon. Cook, uncovered, until the grits are tender and creamy, 4 to 5 minutes. Serve hot.
Yield: 4 servings