Preheat your grill to medium-high heat, ensuring the grates are clean and lightly oiled to prevent sticking.
Place the ears of corn on the grill and cook, turning occasionally, until they develop deep golden brown spots and some blackened char marks at the edges—about 10-12 minutes. Listen for the sizzle and smell the sweet smokiness as they cook.
While the corn grills, melt the butter and prepare your toppings. Crumble the Cotija cheese into a small bowl, and squeeze fresh lime juice to keep handy for finishing.
Once the corn is grilled to your liking, use tongs to transfer each ear to a plate or platter. Brush each hot cob generously with melted butter, allowing it to melt into the kernels and help toppings stick.
Using a brush or spoon, smear a thick layer of mayonnaise all over the hot corn, making sure to cover every kernel for a sticky, flavorful coating.
Sprinkle the generously crumbled Cotija cheese over the mayonnaise-coated corn, pressing lightly to help it adhere to the sticky surface.
Sprinkle chili powder over the entire ear, adjusting the amount to your spice preference. The chili adds smoky heat and vibrant color.
Squeeze fresh lime juice over each corn, brightening the flavors and adding a zesty finish just before serving.
Serve the elote immediately while hot, allowing the flavors and textures—crunchy kernels, cheesy coating, smoky char—to shine through in each messy, flavorful bite.