Slice the bread at 1-inch intervals, cutting not quite all the way through, so the slices remain attached at the bottom. Beat together the butter, cheese, garlic, salt, pepper, and Tabasco until smooth and blended. Gently open the bread slices and between each slice spread a scant tbsp of the cheese mixture.
Wrap the bread tightly in a double thickness of foil. Set on the grilling rack 4 - 6 inches from hot coals and heat for about 15 minutes, turning frequently.