Slice a piece of bread and cut a hole out of the center using a biscuit cutter or glass jar.
Heat skillet over medium and melt a pad of butter in the skillet.
Place bread in the melted butter and carefully crack an egg into the center hole of the bread. Season with pepper, if desired.
Add the small circle of bread that you cut out to the skillet to cook as well.
When the egg white is mostly set and the bottom of the bread is toasted, carefully flip it over.
Allow to cook for just another minute or two to toast the other side and finish cooking the egg. Leave the yolk runny if you like or allow it to cook completely.
Remove from the skillet (along with the little toasted circle) and place on a plate. Enjoy fresh and warm!