In a big pot (like a Dutch oven), melt the butter over medium heat.
Add the finely chopped onion and jalapeno. Cook them until they become tender, which should take about 8 minutes.
Put the cubes of Velveeta cheese and the heavy cream into the pot.
Heat everything over medium heat, stirring occasionally.
Keep going until the cheese melts completely and everything is mixed together well. This usually takes about 5 to 7 minutes.
Add in the rinsed and drained pinto beans and black beans, as well as the chopped tomatoes. Cook it all together for about 2 more minutes.
Now, mix in the fresh cilantro, salt, and ground black pepper.
Transfer your delicious queso to a serving bowl.
Serve it warm, and use corn tortilla chips for dipping.
Enjoy your tasty Joanna Gaines Queso Dip!