Preheat oven to 375 °F.
Prepare collar for 1 1/2-quart greased straight-sided souffle dish as follows: Fold 26-inch-long sheet of waxed paper in half lengthwise; grease 1 side and wrap around souffle dish, greased-side-in, so 3 inches extend above top edge of dish.
Tie in place with string.
In medium saucepan cook asparagus in 1 inch boiling water 5 minutes or until crisp-tender.
Drain; set aside.
In same saucepan melt butter; blend in flour, thyme, Tabasco® sauce and salt.
Gradually add milk.
Stir constantly, bring to a boil over medium heat and boil 1 minute.
In medium bowl beat egg yolks.
Gradually add 1/4 of hot sauce; stir constantly.
Gradually stir egg yolk mixture into remaining sauce in pan.
Add cheese and asparagus; mix well.
Cool slightly.
In large bowl of electric mixer at high speed beat egg whites with cream of tartar until whites are stiff, but not dry.
Gently fold in sauce mixture.
Spoon into prepared souffle dish.
Bake 40 to 45 minutes or until golden brown.
Remove collar.