Cook bacon until crisp and set aside. Crumple or chop when cooled.
In a large skillet, heat butter over medium-high heat. Add onion and green peppers and saute for a few minutes. Add corn, tomato, thyme, and milk and continue to cook over medium heat, stirring occasionally, for 10 minutes or until corn is tender.
Remove from heat and stir n cayenne, crumpled bacon, and salt and pepper, Serve warm.
A traditional side to Creole dishes, this salad is often spiced up with a dash of hot sauce. Turn it into a main course by adding cooked chicken, sausage, crab meat, or jumbo shrimp just before serving, stuffed into fresh tomatoes or spooned over ripe avocado halves. This dish reheats well; make it ahead of time and refrigerate for up to 2 days.