Heat oil in a medium cast-iron skillet over medium heat. Add red onion; cook 5 minutes or until softened. Add flour; cook 2 minutes, stirring constantly. Add stock, squash, chipotle, and adobo sauce; bring to a boil. Reduce heat to medium-low; add 2 ounces Oaxaca cheese and 2 ounces Mexican-blend cheese; cook 2 minutes or until smooth, stirring until cheese melts.
Preheat broiler to high.
Sprinkle remaining cheeses over top. Broil 2 minutes or until cheese is bubbly and lightly browned. Top with radishes, cilantro, green onions, and jalapeño. Serve with chips and celery sticks, if desired.
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