Blend the base.
In the bowl of a food processor fitted with the blade attachment process the cream cheese, butter, shredded Monterey Jack cheese and shredded Cheddar cheese until smooth.
Pulse remaining ingredients
Add the hot sauce, mustard, pimentos, bacon, pickle and cayenne, continuing to pulse until just combined.
Chill cheese ball
Line a small bowl with plastic wrap and scrape the cream cheese mixture into the bowl using a rubber spatula. Gather the plastic wrap around the cream cheese then use your hands to form the mixture into a ball. Chill until firm,.
Roll in pecans
When ready to serve, add the pecans to a shallow bowl. Roll the cheese ball in the pecans to coat.
Serve with an assortment of crackers and vegetables.