Reducing the fat in pimiento cheese is as easy as substituting fat-free cream cheese, reduced-fat Cheddar and low-fat mayonnaise for the full-fat products. And you can kick up the flavor with Worcestershire sauce, red pepper and smoked paprika.
Place cream cheese in a medium bowl; beat with a mixer at medium speed until smooth. Stir in mayonnaise, onion, Worcestershire, salt, and pepper. Add cheddar cheese, pecans, and pimiento; stir well. Cover and chill up to 3 hours. Sprinkle with paprika, if desired. Serve with bread.