In a large mixing bowl, combine mayonnaise, sour cream, apple cider vinegar, sugar, salt, and pepper. Stir until smooth.
Add thawed peas, diced red onion, cheddar cheese, and crumbled bacon to the dressing.
Gently stir to coat all ingredients evenly with the dressing.
Cover and refrigerate for at least 1 hour before serving to allow flavors to blend.
Serve chilled as a side dish.