In large skillet over medium-high heat, sauté bacon until crisp; remove to paper towels. Drain off bacon drippings.
Add corn, onions and peppers to skillet; salt and pepper to taste. Sauté until peppers are softened (about 3-5 minutes).
Stir in cream and cayenne pepper; bring to a simmer. Cook until thickened (about 1-2 minutes).
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