In a small bowl, combine the warm water, sugar, and yeast. Let it stand for 10 minutes, until the yeast is foamy.
In a large bowl, whisk together the flour and salt.
Pour in the yeast mixture and olive oil, then knead until a smooth, elastic dough forms.
Knead in the grated cheddar cheese and sliced jalapeno peppers. Cover and let rise for 1.5 hours.
Turn the dough out onto a lightly floured surface and shape it into a loaf or oblong.
Place on a baking sheet lined with parchment paper and let rest for another 30 minutes.
Preheat the oven to 400°F (200°C) and bake the bread for 35-40 minutes, or until golden brown.
Let it cool completely on a wire rack, then slice and serve.
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