Place potato in a saucepan, and cover with water. Bring to a boil. Reduce heat; simmer 15 minutes or until tender.
Drain and return potato to pan. Add cheese and milk; mash to desired consistency. Cook 2 minutes or until thoroughly heated, stirring constantly. Add onions and remaining ingredients, stirring to combine.
Tailor the flavors to suit your preferences by using Swiss cheese instead of cheddar or prosciutto instead of bacon.