Pretty simple...
Get some ripe Guavas, wash & clean them. Cut them in to halves. Put the halves in a pot and add water. The quantity of the water should be such that the water level is about 2 inches above the fruits. Keep stewing the guavas till they are very soft. Remove from heat and take out the guavas. Strain the stock thru cloth.
Add sugar and some lime juice, one cup of sugar for every cup of stock. Boil the stock. Becareful, it will be foaming furiously. Use a laddle to tame the foam by scooping it up & pouring it back. The stock will soon begin to thicken. Take a small plate and pour some water in it. Drop a drop of the thickening stock in to the water. If it dissolves you have to thicken it further. In the right stage of thickening the drop won't dissolve. Remove from heat and cool it a little and when still hot pour in to a bottle, keep the lid open & let the jelly cool.
Now take the boiled pieces of guava, remove the skin & seeds. Make a smooth paste of these in a blender. Add sugar, about 80% of the quantity of the paste. You can add some lime juice too. Cook this on a frypan till it begins to come away from the sides of the pan. Remove from heat and spread this half inch high on a plate to cool. This is your Guava cheese and I have no idea why it is called cheese