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ADD the oil in a medium saucepan over medium-low heat. Then add the shallots and cook them, stirring occasionally, until they are deep brown, but not burned. About 20 to 25 minutes.
ADD the mayonnaise, sour cream, and spinach to the bowl of a food processor fitted with the blade attachment. Pulse once or twice to combine and further chop the spinach.
SCRAPE the mixture into a bowl and stir in the red pepper flakes, and shallots. Season with salt and pepper.
SURROUND the bowl of dip with chips, crackers, or vegetables and served!