Add olive oil and butter to a large skillet over medium heat. Allow butter to melt and add potatoes, garlic, onions, and bell peppers to the skillet, stirring frequently to prevent sticking. Cook until fork tender, about 15 minutes. Stir in salt and cayenne pepper.
Serve warm.
Notes
Store: After being cooled to room temperature, the breakfast potatoes can be stored in an airtight container in the refrigerator for 3-4 days. When ready to serve, reheat until warmed throughout. Freeze: Once the potatoes have cooled to room temperature, place them in an airtight, freezer-safe container and freeze for up to 3 months. When ready to serve, reheat until warmed throughout. You can thaw in the refrigerator overnight before reheating or reheat frozen.