Heat a medium skillet over medium heat and add 1 tablespoon butter or olive oil; allow it to melt and coat the pan.

Arrange four bell pepper rings (one per egg) in a single layer in the skillet and cook about 1 minute, until they begin to soften.

Crack one large egg into the center of each pepper ring (use all 4 eggs). If the pan is browning too quickly, lower the heat to medium-low.

Cook the eggs without moving them for 3 minutes.

Carefully flip each pepper ring with the egg using a spatula, then immediately sprinkle salt and pepper to taste and grated Parmesan cheese, if using.

Cook about 1 more minute on the second side, or longer until the eggs reach your desired doneness.

Remove from the skillet and serve immediately.