Preheat oven to 375 F. In a 1 quart saucepan on a low flame, bring water, margarine, salt, and cayenne to a boil. When margarine melts, lower heat. Add flour. Dough will form a ball. Stir ball with a wooden spoon continually for 2 to 3 minutes. Scrape bottom of pan often to keep dough from sticking. Remove from heat and place dough in a large mixing bowl. Spread dough in the bowl and let cool for 10 minutes. Since your hands will soon become very sticky, place a large baking sheet near bowl before beginning next step. When dough is cool enough so that eggs do not cook in dough, add all of eggs to dough. Mash by hand until eggs are completely mixed. Add cheese and mix thoroughly.
Place ball of dough in center of ungreased baking sheet. Spread dough from center to form a 5 x 8 inch oval ring.