In a mixing bowl, combine the softened cream cheese, shredded cheddar cheese, and ranch dressing.

Stir in the crumbled bacon and chopped green onions.

Using your hands, shape the mixture into a ball.

Wrap the cheese ball tightly in plastic wrap.

Place the wrapped cheese ball in the refrigerator for at least one hour.

Once chilled, unwrap the cheese ball and roll it in chopped pecans or walnuts if desired.

Transfer the cheese ball to a serving platter and surround it with crackers, veggies, or pretzels for dipping.