Butter one side of each bread slice and put aside.
In a skillet, melt butter over medium heat and sauté the red peppers for 2 minutes.
In a bowl, mix the eggs with milk or cream and pour into the skillet. Cook until eggs are set, stirring continuously to keep it fluffy.
Place 4 bread slices buttered side down and divide the egg mixture evenly among them. Top with 2 Black Diamond Fat Free Cheddar Slices and add salt and pepper. Cover with the remaining bread, buttered side up.
Heat over medium heat in a nonstick skillet or an electric griddle, turning once, until both sides are toasted and the cheese is melted.