Puree the watermelon and the juice, then run that through a strainer, reserve in a bowl. Add all the vegetables and the vinegar, then slowly add the jalapeilo a little at a time. Add salt and pepper to taste.
Toast the crouton and smear the cheese on top. Torch the cheese lightly with a brulee torch. Place in center of bowl pour the gazpacho around until crouton floats. Let this sit covered and refrigerated for at least an hour.