Combine the cilantro, cheese, pine nuts, walnuts, garlic, salt, and cayenne in a food processor and process for 20 seconds. Or process in a blender on high speed.
With the machine running, slowly add the olive oil in a steady stream to form a thick, smooth paste. Season with more salt and red pepper if needed.
Yield: about 1 1/4 cups
Note: Toasting nuts really brings out their flavor. To toast pine nuts, place them in an empty skillet. Cook over medium heat, stirring often, until light brown, then pour onto a plate to cool. To toast walnuts, pecans, or almonds, spread them on a baking sheet and bake in a preheated 350°F oven, stirring occasionally, until fragrant.