Quick-soak your cashews: Pour freshly boiled water over the raw cashews and let them sit for 20 to 30 minutes. Drain and set aside.
Blend all ingredients until smooth: Add the soaked cashews, oats, nutritional yeast, garlic, lemon juice, miso paste, black pepper, and 5 tablespoons of warm water to a blender.
If making the nacho-style version: toss in the pickled jalapeños, smoked paprika, and chili powder.
Blend on high until completely smooth and creamy - scraping down the sides if needed. Add more warm water, a tablespoon at a time, until you reach your ideal pourable queso consistency.
Taste and adjust— add more spice, acid, or salt if needed.
Serve warm with tortilla chips, tacos, burrito bowls, or drizzle over roasted veggies!