Blend the shallots, sherry vinegar, Dijon, egg, salt and pepper. Slowly drizzle in the bacon fat, and then the canola oil, until all is emulsified. This dressing is best when the bacon fat is still warm. You can keep the leftovers in the refrigerator — just allow it to come to room temperature when you want to use it again.
This is a staple in my wheelhouse, and it makes regular appearances on our menu. It is killer on some roasted beets with goat cheese, but you can put it on just about anything. Play around with it: It provides a good way to get picky eaters to try something new. They say fat is flavor, but bacon fat is in a class all its own.