Heat oven to 350°F.
In food processor, grind granola about 30 seconds or only until large lumps are gone. Pour onto plate.
Place 4 slices of bread on work surface. Spread each with 1 tablespoon peanut butter. Top each with remaining slice of bread.
In small bowl, beat eggs, cream and sugar with whisk until well combined. Pour into shallow dish such as a 13x9-inch baking dish.
Heat 10- or 12-inch nonstick skillet over medium heat. Add 2 tablespoons of the butter; heat until melted. Reduce heat to low.
Dip 2 sandwiches into egg mixture making sure both sides of each are evenly wet. Coat each sandwich with granola, gently patting each side to get coating to stick.
Place in skillet; cook about 2 minutes on each side. Transfer to ungreased cookie sheet; place in oven. Repeat process with remaining 2 sandwiches using remaining 2 tablespoons butter. Keep sandwiches warm in oven until ready to serve.