It's processed (not aged), high fat, low protein cheese. Invented by James L Kraft (yes, that Kraft) and is the basis of Kraft Mac & Cheese, elsewehere called Kraft dinner. It melts perfectly and is shelf-stable. Fun fact: for a time it was called Government cheese. USDA used to buy surplus milk in glut years to stabilize prices, mass produce this cheese product, and give it out as part of SNAP (Supplemental Nutrition Assistance Program/'food stamps'). The phrase 'government cheese' became a pseudonym for welfare and uttered by ('compassionate') conservative types to belittle the food insecure, so they rebranded it and voila! Now it's 'merican!
you're behind schedule on your food hipsterism. american cheese has passed through the unironically bad phase, the ironically bad phase, and ironically good phase, and is now back to unironically good.
It's so sad to me that American cheese is only associated with the shitty kraft singles. White American cheese is such a good melted or sandwich cheese.