Preheat oven to 400 degrees. Spray muffin pan with butter non-stick spray.
Using a cookie cutter, cut circles out of bread slices about 3 inches in diameter.
Press bread circles into the muffin pan and set aside.
Heat a large skillet over medium-high heat. Cook bacon until partially cooked but still pliable, about 3 minutes.
Shape bacon strips into the toast cups and fill each with 1 tablespoon shredded cheese. Bake for 5 minutes, allowing the bacon to crisp slightly. Remove from oven.
Crack an egg into each cup, removing most of the egg white first. Sprinkle with salt and pepper to taste. Return to the oven and cook until the whites begin to set, about 8 to 10 minutes.
Remove from oven, lift out with a spoon, and serve warm.