In a sauce pan combine cream, cream cheese, milk and sugar. Heat slowly while continuously mixing until it reaches nearly boiling point (do not boil) and sugar is completely dissolved
Place egg yolks in a mixing bowl then slowly pour around a cup of the heated cream mixture while whisking.
Pour egg mixture to the sauce pan then continue to heat while continuously mixing. Dip a tablespoon and see if liquid sticks to the back side, if it does then you can now turn the heat off.
Place in a heat proof container; add drops of yellow food colour and vanilla extract. Let it cool down, once cooled down place in the fridge for at least four hours.
Prepare your ice cream maker and pour the cream mixture together with shredded cheddar, churn according to ice cream manufacturer’s instruction. Mine took 30-35 minutes.
You can now eat the ice cream at this stage, but if you prefer a firm ice cream freeze for at least 6 hours.