Cut thin slice off both ends of the potato so it can stand on one end. Then stand on one of these ends and cut out a cone in the circle you've made. Slice vertical lines around the circle, going as far down as the bottom of the cone (maybe a bit further).
Put on an oven tray, drizzle in oil and salt, then bake for 45 minutes at 200 Deg. Celcius. Then stuff the cone with cheddar and bake for a further 5 minutes. Start cooking some bacon to a crisp.
Put a spoonful of ranch dressing (or variant) on the top of the cone. Sprinkle with crispy bacon, more dressing and then chives. Enjoy with some salad.