In a large skillet, over medium heat, melt butter. Add bell pepper and saute 2-3 minutes. Add shrimp and green onions. Cook until Shrimp are pink and firm. Stir in cream cheese to melt. Stir in black pepper, hot sauce, Old Bay, sour cream and shredded cheeses. Combine until cheeses are melted and everything is blended well.
May be baked in a greased casserole dish at 350 degrees until brown and bubbly or it may be transferred to a crock pot on low to keep warm. Serve with crackers, reads and / or veggies.
If dip gets a little thick, a splash of milk can be added to thin it out.