In a large skillet, fry bacon until crisp, about 5 minutes. Using a slotted spoon, transfer bacon to a napkin-lined plate. Leave bacon fat in the skillet (or reserve a few tablespoons for cooking eggs if desired).
Add onion and red pepper. Cook until softened, stirring occasionally, about 5 minutes.
Stir in sweet potatoes, 1/2 teaspoon salt, and 1/4 teaspoon pepper. Cover and cook, stirring occasionally, until softened and the sweet potatoes begin to brown, about 10 to 15 minutes.
Stir in bacon and thyme to skillet and season to taste with salt and pepper. Serve with grilled bread and fried eggs if desired.
To serve with fried eggs and grilled bread (optional):
Heat a medium nonstick skillet over medium-high heat. Spread each slice of bread with 1 teaspoon butter on one side and place butter-side down in the skillet to grill. Heat until lightly golden brown. Remove from heat and cover to keep warm while preparing the eggs.
Heat reserved bacon fat or butter in a nonstick skillet and fry eggs to desired doneness. This may be done with all eggs at once or in batches. Season the eggs to taste with salt and pepper.
To make this recipe gluten free, omit the bread.
To make this recipe Paleo or Whole30, use sugar-free bacon and omit the bread. Fry the eggs in clarified butter or ghee (or reserve some bacon fat after frying the bacon).