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1
Heat a skillet over medium heat.
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2
Add the bacon; cook until browned, 3 to 4 minutes.
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3
Remove the bacon with tongs; drain on paper towels; set aside.
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4
Add the onions to the skillet with the bacon drippings; cook, stirring constantly, until the onions begin to soften, about 3 minutes.
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5
Add the mushrooms; cook until tender and most of the liquid released has evaporated, 5 to 6 minutes.
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6
Transfer the mixture to a bowl to cool.
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7
When cool, set aside half the mixture; finely chop the other half.
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8
Whisk together the eggs, cream, Parmesan, and salt in a medium bowl.
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9
Stir in the finely chopped vegetable mixture; set aside.
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10
Place the bread strips in a shallow baking dish large enough to hold them in a single layer.
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11
Pour the egg mixture over the bread; soak 10 minutes.
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12
Turn the strips over, and soak 10 minutes more, or until the bread is soaked through.
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13
Preheat the oven to 250F.
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14
Place a wire rack on a baking sheet; set aside.
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15
Heat 1 tablespoon butter and 1 tablespoon vegetable oil in a large skillet over medium heat.
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16
Fry half the bread strips until golden brown, 2 to 3 minutes per side.
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17
Transfer to the wire rack; place in the oven while cooking the remaining bread.
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18
Wipe out the skillet; repeat with the remaining butter, oil, and bread.
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19
Heat the remaining onion mixture in a small skillet until warm.
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20
Serve the French toast warm, topped with the remaining onion mixture, crumbled bacon, and Parmesan, if desired.
