Slice off stem end and bottom of each bell pepper. Cut out core and membranes inside each capsicum. Evenly slice cored capsicums into 1.5cm rings.
Preheat oven to 200°C. Line a large baking tray with baking paper and heat tray in oven for 2 minutes. Place 4 green capsicum rings and 4 red capsicum rings (reserve extra rings to use in salads or sandwiches) on heated tray. Crack an egg into each ring. Bake until eggs are cooked to your liking, about 4 minutes for runny yolks, and up to 6 minutes for harder set ones.
Season eggs with salt and pepper and serve.
TIP: Choose capsicums that are tall rather than squat. If serving with bacon, cook bacon well so the maximum fat drains away.
VARIATION: Swap capsicum for large hollowed halved tomatoes.