Once the jello is fully set, grasp edges of the waxed paper and carefully lift it out of the dish. You may need to support the middle so the jello doesn't sag or break.
Cut in half on a clean cutting board, then decide whether you want full or half-slices of bacon. Since I was serving this at the Bacon Takedown
, I chose to cut it again so I could create half-slices from pan quarters. It also made for easier transport, as the quarter-sized slabs fit into my cooler, and were a better match for the length of my chef's knife and cutting board.
Serve by carving off thin slices just as you would with a hunk of real bacon. I found that about 1/3" was the right thickness to maintain structural integrity of the bacon slices. As you can see below, it's remarkably convincing. Just don't fry it!
To store, wrap slabs in plastic wrap, and refrigerate. Food coloring will slowly migrate into the neighboring white bits of jello, but not too badly; the main image below was taken after about 5 days storage.
Have fun, and if you try this at home please post pictures in the comments! I'd especially like to see any variants you make - there's a huge opportunity for creating fun bacon-based jello monstrosities.