In a heavy skillet saute 1/4 pound chipped beef and 2 tablespoons minced onion in 1/2 cup butter until onion is translucent. Blend in 3 tablespoons flour and 1 cup milk and cook, stirring constantly, until thick and smooth.

Add 1/4 pound mushrooms, sliced and sauteed in butter, and 1 cup each sour cream and finely grated Cheddar cheese. Stir until blended. Do not let boil. Garnish with 2 tablespoons chopped parsley. Serve over boiled potatoes, toast points or toasted English muffins.