Bring a medium-size pot of salted water to boiling. Add broccoli; cook for 5 to 6 minutes or until tender. Drain; keep warm.
Meanwhile, heat 2 tablespoons butter in medium-size nonstick skillet over medium heat. Add red pepper; reduce heat to medium-low; cook, stirring occasionally, 20 minutes. Remove from heat. Add remaining tablespoon butter, salt and pepper.
Place broccoli in bowl. Pour red pepper butter over top. Serve at once.
Recipe courtesy of Family Circle Magazine