In a Dutch oven, cook bacon over medium-high heat until crisp then transfer to a paper towel-lined plate. Set bacon aside and add immediately before serving.
Remove all but 2 tablespoons bacon grease from pan.
Return pan to heat and sauté shredded carrots and diced onions until onions are translucent and carrots soften and begin to caramelize. (If desired, set aside 3 tablespoons of the sautéed vegetables to use as garnish.)