Toast almonds in a saucepan over medium heat until lightly golden.
Place bacon in a large skillet and cook over medium-high heat, turning occasionally, until crispy and evenly browned, 8 to 10 minutes.
Drain and cool slightly before chopping into bits.
Combine mayonnaise and Cheddar cheese in a mixing bowl.
Toss in bacon, green onions, almonds, and cayenne.
Stir with a spatula until combined.
Wrap and chill in the fridge at least 1 hour before transferring to a serving bowl.
