Preheat your oven to 425°F (220°C). If you prefer frying the fries, heat the oil in a fryer or frying pan over medium heat.
Wash and peel the potatoes (optional). Cut them into thin strips, about ¼ inch thick, to resemble fries.
In a large mixing bowl, toss the potato strips with olive oil, chili powder, garlic powder, onion powder, paprika, and salt until well coated.
If baking, spread the seasoned fries in a single layer on a baking sheet. Bake for about 25 minutes or until golden brown and crispy, flipping halfway through.
If frying, fry the potato strips in batches for about 3-4 minutes per batch or until golden brown. Drain on paper towels to remove excess oil.
While the fries are cooking, heat the nacho cheese sauce in the microwave according to package instructions until warm.
Once the fries are cooked, arrange them on serving plates. Drizzle with hot nacho cheese sauce.
Top the fries with diced tomatoes, guacamole, and jalapeños if using. Garnish with fresh cilantro, if desired.
Serve immediately and enjoy your homemade Taco Bell Nacho Fries!