Cut bread into coarse flakes, soak in water for about one hour, drain well, mash in a frying pan and bring to a boil with the soup.
Add Obwaldner alp cheese to the bread mash and mix well, perhaps season with salt and nutmeg (freshly grated). The cheese soup should not be too dry.
Cut onion into rings, roast in the alp butter until light brown and pour over the cheese soup form.