Place bacon between 2 sheets of paper towels. Use COOK cycle and cook 1 1/2 minutes, or until partially cooked. Split buns; spread with mustard; set aside.
Cut cheese into 8 1/4 inch strips; divide cheese into 2 stacks. Cut each hot dog lengthwise in half, almost through. Lay cheese strips in slit. Wrap bacon strip around each hot dog. Place hot dogs in buns. Wrap each with paper towels or napkin. Use DEFROST cycle and cook 2 minutes. Let stand 1 minute before serving. Yield: 2 servings. (Any favorite cheese can be substituted for cheddar cheese.)