Combine all ingredients in a small to medium-size slow cooker. Cover and cook on low for 3 hours. Stir to combine a couple of times during the cooking process. Turn to warm until ready to serve. Garnish with jalapenos and fresh cilantro if desired. Serve with chips.
Alternative microwave instructions: Combine all ingredients in a microwave-safe bowl. Heat at 2 minutes intervals stirring after each interval. Depending on your microwave it may take 5 to 6 minutes to melt everything. You can add more milk if needed to make it thinner. Garnish and serve.