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Preheat oven to 400 degrees F.
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In cast iron skillet, arrange bacon and bake in oven 15-20 minutes, until desired crispness. Drain excess grease by placing cooked bacon on paper towel.
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In bowl, toss shrimp in salt, pepper and Cajun seasoning.
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Use cast iron skillet with bacon grease still coating it to cook shrimp. Heat skillet on burner to medium heat, add shrimp and cook about 5 minutes, stirring occasionally, until pink.
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In medium pot, bring salted water to boil. Add grits and reduce heat to low. Cook about 5 minutes, stirring occasionally, until liquid is absorbed and grits are creamy. Remove from heat, cover and let stand 1-2 minutes.
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Place grits in bowls, top with shrimp and crumbled bacon and garnish with chopped green onions.