Heat the olive oil in a large skillet over medium heat.
Add the onions and cook, stirring occasionally, until softened, about 5 minutes.
Reduce the heat to low and continue cooking, stirring occasionally, until the onions are deeply caramelized and golden brown, about 30 minutes.
In a blender, whip the cottage cheese until smooth and creamy.
Add the yogurt, mayonnaise, cayenne pepper, salt, and black pepper to the whipped cottage cheese. Stir to combine.
Fold in the caramelized onions.
Serve with your favorite chips or crackers.