Cook the bacon slices in a skillet over medium-high heat until very crispy, about 8-10 minutes, turning occasionally. Transfer to a paper towel-lined plate to cool, then crumble into 1/2-inch pieces. While the bacon cooks, finely dice the red onion into 1/8-inch pieces—I keep the pieces small because red onion can easily overpower delicate peas, so precise sizing matters here. Shred the cheddar cheese into bite-sized pieces.

In a large mixing bowl, whisk together the sour cream and mayonnaise until smooth and well combined. Add the sugar, white vinegar, salt, pepper, and garlic powder, whisking until the dressing is fully blended and no streaks of the individual ingredients remain. Taste the dressing and adjust seasonings if needed—this is the moment to refine the flavor before adding the delicate peas.

Add the peas, crumbled bacon, diced red onion, and shredded cheddar to the bowl with the dressing. Using a gentle folding motion with a spatula or large spoon, combine all ingredients until the peas are evenly coated—avoid overmixing, which can break down the peas and make the salad mushy. I find that keeping my touch light preserves the fresh texture of the peas better than aggressive stirring. Cover the bowl and refrigerate for at least 2 hours, which allows the flavors to meld and helps the salad chill thoroughly.

Remove the salad from the refrigerator and give it a gentle stir. Taste a spoonful and adjust the salt and pepper to your preference before serving—the flavors may have mellowed slightly during chilling. Serve cold directly from the bowl or transfer to a serving dish.