Combine the sour cream and cream cheese in a medium mixing bowl until smooth.
Add in the Hormel beef and stir it into the dip base to break up the beef a bit. Add the green chiles, green onions, and red pepper flakes. Stir until evenly combined.
Cover and chill until ready to serve. Sprinkle the top of the dip with more sliced green onion and serve with chips or crackers.
Notes
You can use your favorite hot sauce instead of red pepper flakes to give your dip a kick. The spiciness from the red pepper flakes will seep into the dip as it rests, so start with less and go from there.