Heat oil in Dutch oven over medium-high heat. Add onion, ginger and jalapeño; sauté 5 to 7 minutes or until onion is tender. Stir in squash and broth; bring to boiling.
Reduce heat; simmer 30 minutes or until squash is tender. Add evaporated milk, coconut milk, sugar, salt and red pepper; cook 5 minutes more.
Process mixture with hand blender, stopping to scrape down sides, until mixture is smooth. Garnish with sour cream and thyme, if desired.
*Use caution when handling hot peppers. Wear disposable gloves or wash hands thoroughly in hot, soapy water.
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