Sautee the onion in whatever fat (or not, I use butter) of your choice until translucent but not browned.

Add sliced hotdogs and sautee a bit more, a minute or so. I let them sautee while I open the cans of soup, which is long enough.

Put in both cans of soup.

Now is the time for improvising. If you like a thinner soup, add the appropriate amount of water (1 can water for 1 can soup). If you like a thicker soup, only add 1/2 can water per can of soup.

At this stage, I usually add about 1 tablespoon of chili powder, about 2 teaspoon of cumin, about 1/4 teaspoon of extra-hot cayenne powder, 1 teaspoon garlic powder, and about 2-3 tablespoons sugar. I occasionally add beef bullion or beef soup base. It almost never needs salt (the hotdogs salt things up nicely).

Bring to a boil, then reduce to a simmer for…however long you want! I usually simmer for 15-30 minutes. This seems to be long enough for the spices to really come to flavor. If you want to shorten this simmer time, put your spices in with the hotdogs and sautee them a bit first.