Heat your oven to 425°F (220°C). Line a baking sheet with parchment paper.
In a skillet over medium heat, cook the ground beef until browned, about 6–8 minutes. Drain the grease.
Stir in crumbled turkey bacon, diced onions, ketchup, mayo, and mustard. Season with salt and pepper. Mix well and turn off the heat.
Place the tater tots on the baking sheet. Let them sit for 2–3 minutes to soften slightly. Then, gently press the center of each tot with the end of a spoon or your finger (wear a glove) to make a cone shape.
Spoon the beef mixture into each cone. Sprinkle cheddar cheese on top.
Bake for 15–20 minutes, or until the tots are crispy and cheese is melted.
In a bowl, mix any leftover beef mixture with shredded mozzarella. Spoon a little onto each cone.
Return the cones to the oven for 5–10 more minutes, until the mozzarella is bubbly and slightly golden.
Serve warm with ketchup, mustard, ranch, or any dipping sauce you like.