1. Melt butter in a 3-qt. saucepan over medium-high heat; add carrots and next 4 ingredients, and sauté 5 to 7 minutes or until tender. Sprinkle flour over vegetable mixture, and stir until coated. Stir in bouillon cube, milk, and 3 cups water; cook, stirring occasionally, 10 to 11 minutes or until mixture is slightly thickened and bubbly.
2. Add shredded cheese and red pepper, stirring until well blended. Serve immediately.
The Sandwich: Layer guacamole, tomato slices sprinkled with salt and pepper, bacon slices, and arugula between whole grain bread slices.