Combine together water, Pioneer Chicken Gravy Mix and polenta in a medium sized pot and heat until almost boiling. Turn the heat to low and simmer for about 20 minutes until cornmeal is tender. Add extra water if necessary. Fold in butter and cheese once the cornmeal is fully cooked.
In a large saute pan add the sliced bacon and cook over a medium high heat for 5-10 minutes to render fat and crisp the bacon. Remove the bacon from the pan and reserve the fat. Begin to sear the shrimp in the excess bacon grease. Cook the shrimp for 1-2 minutes on each side and remove them from the pan. Toss together the cooked bacon and shrimp. Set aside.
Ladle 3-4 oz. of grits into a bowl, place 5-6 shrimp on top and sprinkle any bacon a top the grits. Garnish with thinly sliced green onions.