Place Cheddar, pepper Jack, and cream cheese blocks in the freezer for 15 minutes.
Meanwhile, add jalapeno, red onion, cilantro, lime juice, red wine vinegar, chili powder, salt, and olive oil to a bowl and stir until well blended; set aside.
Cut each block of Cheddar and Jack cheese in half lengthwise and then cut each piece into 1/4-inch square pieces. Cut a small piece off of the cream cheese and place it between alternating flavors of cheese. Place the alternating cheese slices on their slides in the bottom of a small casserole or shallow dish. This can be done in 2 to 4 rows depending on the size of the dish.
Pour the reserved marinade over the cheeses, cover, and refrigerate at least 2 hours or up to overnight.
