Preheat oven to 350 degrees F. Spray 8x8-inch glass baking dish with cooking spray; set aside.
Combine Egg Beaters, milk and garlic powder in large bowl. Add bread, Canadian bacon, peppers, cheese and green onions; toss to coat.
Place bread mixture in prepared dish; lightly press bread down into Egg Beaters mixture. Bake 55 to 60 minutes or until knife inserted in center comes out clean.
Serve with mustard, if desired.