In a medium skillet, saute bacon over medium heat until mostly cooked. Add onion and continue to saute until bacon is crispy and onion is softened. Drain excess grease and set aside to cool slightly.
In a medium mixing bowl, add softened butter, bacon-onion mixture,worcestershire sauce, and pepper. Cream together with a hand mixer or two forks until thoroughly mixed.
Transfer butter to a large piece of plastic wrap and form it into a long log. Wrap butter tightly in plastic wrap, twisting the edges to seal. Refrigerate or freeze until chilled and set, 30-60 minutes, then slice into dials when ready to cook with.
Serve on steak, burgers, or veggies and enjoy!