This is the perfect appetizer to ring in the New Year. We gobbled these delicious bacon wrapped tater tots in no time at all. Tater Tot Dipping Sauce Ingredient List. Cheese sauce! And the secret dipping sauce takes these tots over the top. My husband always requests this recipe for game day. olive oil 2 tbsp. The men in my life always love this quick and easy … Lift the deep-fryer basket out of the hot oil and pour the tater tots into a bowl lined with paper towels to soak up excess oil or use a slotted spoon to remove tater tots from the oil if using a Dutch oven. 1 tbsp. butter 2 tbsp. flour 1 cup milk 1/2 cup velveeta cheese 1 c. cheddar cheese, shredded Mix olive oil and butter in a saucepan. Fry the tater tots for three to four minutes or until golden brown. The dipping sauce takes no time at all to make. Tater Tot Dipping sauce is especially good when eating this fun and easy Tater Tot Kabob recipe loaded with bacon, cheese, tomato and onions. You are going to absolutely love this. Spicy and umami rich gochujang (a Korean chili paste), sweet honey, tangy lime, and creamy mayo just to name just a few of the ingredients, all thrown into a food processor and pureed – it’s well balanced and makes a perfect dipping sauce for these crispy little gems. It’s very similar to the dipping sauce for Outback’s Blooming Onion.