Using a heart-shaped cookie cutter or knife, cut a heart-shaped hole in the center of the bread, setting the cut-out aside.
Melt some butter in a small nonstick skillet over medium heat. Place the slice of bread and the cut-out in skillet and toast lightly, about 1 minute.
Crack the egg into the hole, seasoning if desired, and cook until golden brown, about 2 minutes. Add more butter as needed to brown and crisp the toast. Flip the egg and cut-out, seasoning the other side if desired. Cook another 2 minutes or until egg is cooked to preference.
Note: for a sunny-side-up egg, toast the bread on one side, then flip before adding egg into center.
Transfer egg-in-a-basket to a plate. Serve toasted cut-out alongside for dipping into the yolk.
Repeat steps 1-4 with second slice of bread and egg.
Variation: Instead of a single slice of bread, you can try making this as a sandwich by first layering two slices of bread with deli meat and cheese before cutting out the heart shape. Then follow the rest of the steps accordingly.