Preheat frying pan over medium-low.
Butter your bread.
Place one slice on pan, butter side down. Top with the cheddar cheese, jalapeño pepper slices, and bacon.
Spread cream cheese on the other piece of bread (opposite side of butter), then place the slice cream cheese side down on top of the grilling sandwich.
Grill on both sides until the cheese is melted and the bread is golden brown