First, we will caramelize the onions. Start a large, heavy bottomed pot over medium-low heat. When hot, melt the butter and add the onions.
Caramelization is a slow process, so you will need to cook them over medium-low heat for as much as an hour, as the moisture cooks out and the onions slowly brown. Stir them occasionally, but not too often. The onions should not immediately brown, but rather slowly turn to a soft texture and golden color. Eventually the sugars will begin to stick to the bottom of the pot and burn a bit. That’s when you are done caramelizing.
Add the thyme and pepper and deglaze the pan with the wine, being sure to scrape the bottom and release that fond. As the fond is incorporated, the onions will take on the familiar, deep brown color. Continue cooking, stirring, and scraping until the moisture from the wine is cooked off. Remove from heat.
Stir in the cream cheese and mix until it is nicely incorporated. Add salt to taste.
Thinly slice your baguette into rounds and brush with olive oil or melted butter. Toast these rounds in the oven or in a large skillet over medium heat, flipping once to crisp on both sides.
Top each crostini with a dollop of caramelized onions and then sprinkle over some grated cheese. Melt the cheese by placing the crostini under a broiler or briefly hitting them with a butane torch.