With the rim of a glass or a biscuit cutter, press a hole in the center of the bread.
In a skillet over medium-low heat, melt the butter. Distribute the melted butter over the bottom of the pan, place the piece of bread in the skillet, and crack the egg into the center of the hole. Place the cut-out circle of bread in the skillet, too. (As an option, you may choose to spread softened butter on each side of the bread.)
Sprinkle the egg with salt and pepper. When the egg is slightly set and the bread is golden on the bottom, flip to the other side. Flip the circle of bread, too.
Sprinkle the other side of the egg with salt and pepper and sprinkle with cheese, if using.
Move the piece of toast around the skillet, soaking up any additional butter. Cook until the yolk feels soft or is cooked to your liking.
Serve with a side of fruit and the circle of toast for dipping!
