What do you get when you heat a piece of bread long enough for it to become golden-brown on both sides? Congratulations, you've made a piece of toast!
To make toast, you simply toast bread, or heat it on a grill, in a toaster, or in an oven. People put all kinds of things on toast, from butter to jam to baked beans. Making or giving a toast is another thing all together — this kind of toast is a brief speech given while raising glasses and drinking together: "A toast to the birthday girl!" And if you are so highly regarded in a particular area that you're almost famous, you're "the toast of the town."