Pull the cream cheese and mayo out of the fridge and set on the counter while you prep and cook the onions.
Heat the butter and oil in the bottom of medium skillet along with a pinch of red pepper flakes.
Add the onions and saute over high heat until they soften and begin to change to a golden color, about 7 minutes..
Reduce the heat to low and season with salt and pepper. (feel free to add garlic or other seasonings).
Give the onions a stir every now and then while you continue to cook them over low heat for another 20 minutes or so. They should deepen in color and smell really fragrant.
Remove from the heat and allow to cool.
When cool, beat the cream cheese, mayonnaise and lemon juice together in a large mixing bowl until smooth.
Stir in the onions.
Adjust the seasonings to taste.