Preheat your oven to 375°F. Line two baking sheets with parchment paper.
Add the shredded cheddar cheese, flour, cold butter, and salt to a food processor. Pulse for about 30 seconds, or until the mixture becomes crumbly.
Begin adding the cold water, 1 tablespoon at a time, pulsing between each addition. Stop once the dough begins to clump together. You may not need all 4 tablespoons.
Place the dough between two sheets of parchment paper and roll it out to approximately 1/8-inch thick.
Remove the top sheet of parchment and use a pizza cutter, pastry wheel, or knife to cut the dough into small squares. For that classic cheese-cracker look, use a skewer or toothpick to poke one small hole in the center of each cracker.
Transfer the crackers to the prepared baking sheets, leaving a little space between them.
Bake for approximately 15 minutes, or until the crackers are puffed, crisp around the edges, and lightly golden. Keep an eye on them toward the end because thinner crackers will bake faster.
Allow the crackers to cool on the baking sheet for at least 1 hour. They will continue to crisp as they cool.
Once completely cooled, store them in an airtight container.