Begin by shredding both the extra-sharp and sharp cheddar cheeses. Using freshly shredded cheese rather than pre-packaged will yield a creamier texture.
In a large mixing bowl, combine the mayonnaise, Worcestershire sauce, and a pinch of cayenne pepper. Stir them together until well blended.
Fold in the drained diced pimentos into the mayonnaise mixture. This is where the magic begins; the pimentos add a delightful pop of color and flavor.
Gradually add the shredded cheeses to the mixture. Use a spatula to gently fold the cheese into the pimento mixture until everything is well combined.
Give your pimento cheese a taste test. If you want more heat, add another pinch of cayenne. If you prefer a tangier flavor, feel free to add a bit more Worcestershire sauce.
Cover the bowl with plastic wrap or transfer the pimento cheese to an airtight container. Chill in the refrigerator for at least one hour before serving to allow the flavors to meld. Serve with your favorite crackers, vegetables, or as a sandwich spread.