Peel the potato skins off with a peeler then grate the potatoes into thin slices.
Dice red bell peppers into bite size pieces and set aside.
Place a large iron skillet on low to medium heat and add 3/4 tablespoon of butter, swirling across the skillet surface.
Put remaining 1/4 tablespoon of butter in a smaller skillet for serving and set aside.
Once the butter in the large skillet has melted with no clumps, add the grated potatoes and red bell peppers in an even layer. Season with salt and pepper.
Caramelize grated potatoes stirring back and forth until the potatoes are cooked and slightly golden brown.
Transfer the potato mixture to the smaller skillet and create 3 pockets where the eggs will sit.
Carefully crack the eggs into the pockets.
Pop a lid onto the skillet and cook on low heat until egg whites are set.
Garnish with parsley and an additional sprinkle of salt and pepper. Serve warm.