For the Blue Cheese Ranch, stir together the blue cheese, mayonnaise, sour cream, chives, vinegar, and onion and garlic powders in a medium-size bowl. Season with salt and pepper, and set aside.
Place shredded chicken in a medium-size bowl. In a small skillet, melt butter and combine with hot sauce. Let sauce cool slightly then pour it over the shredded chicken. Toss to coat chicken completely.