Grate the cheddar using the large holes of a box grater. Grate the onion using the large holes of a box grater (you should have about ½ cup grated onion). Place the cheddar, onion, pecans, mayonnaise, black pepper, and cayenne pepper in a medium mixing bowl. Stir to combine.
Line a 5-cup brioche mold with plastic wrap. Wrap a small juice glass in plastic wrap. Lightly spray the inside of the mold and the outside of the glass with nonstick cooking spray. Place the glass upside down in the middle of the brioche mold to create a ring. Fill the mold with the cheese mixture. Cover and chill for 8 hours. May be stored in the refrigerator for up to 3 days.
When ready to serve, unmold onto a platter and gently remove the juice glass. Fill the center of the ring with strawberry preserves before serving. Serve with crackers.
Note: Don’t worry if you don’t own a brioche mold or ring mold for making a cheese ring. An easy substitution is a small, shallow mixing bowl with a small juice glass placed in the center.