In a medium saucepan, cook grits according to package directions. When done, stir in the butter, cheese, scallions, and bacon; cook 5 minutes longer. Add salt and pepper to taste.

​Fry the eggs in butter until the whites are set but the yolks are still runny. (Or poach the eggs: bring a 14-inch skillet of water to a boil; add 2 tablespoons white vinegar and 1 teaspoon salt.Slip in the eggs and poach for about 3 minutes. Remove with a slotted spoon.) Spoon the grits into 4 bowls, topping each bowl with 2 eggs. Serve at once.