In Captain Marvel Adventures #17, in a story by Otto Binder, which came out almost three years into Captain Marvel and Doctor Sivana's respective comic book careers, Doctor Sivana invented a hate serum to make other people hate Captain Marvel like he does. He called Captain Marvel a Big Red Cheese Cake...
Later, when he turns Billy Batson and Beautia Sivana (Sivana's beautiful and rather kindhearted daughter who has a big crush on Captain Marvel) against Captain Marvel, they both call him a "Big Piece of Red Cheese" and so a nickname was born!
Thanks for the question, Mark!
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