Chop off the end of the frozen bacon (perpendicular to the strips) 4 times to create 4 thin strips made of thin pieces of the bacon. Put bacon into a hot skillet and render the fat. While the bacon renders, dice the shallot and add it to the bacon. When the shallot is soft and bacon is almost fully crispy, add the shrimp and cook until white and firm.
In a pot add the grits and the chicken broth, bring pot to a boil. After it boils, reduce to simmer. Season with salt to personal preference.
Put grits into serving bowls first and then pour bacon, shallot and shrimp over. Slice small circles off the green onion and sprinkle on top.