Using a heart-shaped cookie cutter or a knife, cut a heart shape out of the center of the bread.
In a medium non-stick skillet over medium low heat melt butter. Place both pieces of the bread (heart stencil and cut-out heart) in the skillet. Cook about 2 minutes, or until bread is toasted on one side.
Flip both pieces of bread over and add the egg to the center of the cut-out heart. Cook 2-3 minutes, or until white of egg is cooked, flip bread with egg if needed.
Salt and pepper to taste. Spread heart cut-out with jam or apple butter, if desired.