In a skillet over medium heat, melt 2 tablespoons of butter. Add 2 large sliced onions and cook, stirring occasionally, for about 20-25 minutes until they are golden brown and caramelized.

In a mixing bowl, combine the sour cream, mayonnaise, garlic powder, onion powder, salt, and black pepper. Stir in the caramelized onions until well mixed.

Cover the dip and refrigerate for at least 30 minutes to allow the flavors to meld. Serve chilled, garnished with chopped chives.