Preheat oven to 350°. Line a 13x9-inch baking pan with foil, letting ends extend over sides of pan.

In a large bowl, beat butter and cream cheese until smooth. Stir in Cheddar. In a medium bowl, whisk together flour, chives, ½ teaspoon salt, and cayenne, if using. Using a spoon, stir flour mixture into butter mixture. Using hands, knead mixture until a dough is formed.

Press dough into prepared pan. Prick top with a fork at ½-inch intervals. Bake 20 to 25 minutes or until golden brown. Remove from oven.

Using a small offset spatula or spoon, spread pepper jelly on top, leaving a ¼-inch border. Sprinkle with pecans and additional salt. Bake 15 minutes more. Let cool completely. Using excess foil as handles, remove from pan and cut into squares to serve.