Add butter to a skillet over medium heat. Once melted, add onion and pepper then sauté until tender. Add water and corn. Cover and cook, stirring occasionally, until corn is tender (about 5-8 minutes).

Season with black pepper and a little salt then divide among 4 cups.

In each cup, add 1 heaping tablespoon of mayonnaise and 1 heaping tablespoon of Mexican crema (or sour cream). Stir to combine.

Sprinkle generously with grated cheese and chili powder, to taste. Serve with lime wedges to squeeze on top. Enjoy immediately.