In a large pot, melt butter over medium-high heat. Add the onion, cooking until softened (about 3-5 minutes.)
Stir in cream cheese, peppers, salt, oregano, and chicken broth. Cook until the soup is steaming (but not boiling.)
Transfer to a blender, add cream. Blend until smooth. Immediately transfer to soup bowls. Top with croutons, feta, and basil, if desired.
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