Gather all ingredients and equipment.
Cook and shred the chicken if not using pre-cooked chicken.
In a large mixing bowl, combine cream cheese, sour cream, and mayonnaise until smooth.
Add shredded chicken, cheddar cheese, banana peppers, garlic powder, onion powder, salt, black pepper, and cayenne pepper to the creamy mixture and stir until well combined.
Transfer the mixture to a baking dish and spread evenly. Bake in a preheated oven at 350°F for 25-30 minutes until hot and bubbly.
Let cool slightly before serving and garnish with chopped parsley.