For the Hollandaise Sauce: Fill a saucepan with 1 inch water and bring to a simmer. Turn heat to low.
Fill a 12-inch skillet with high sides halfway with water. Add vinegar and bring to a simmer.
In a glass bowl, whisk together egg yolks and lemon juice until they double in size and become pale. Should take about 2 minutes.
Place bowl with egg mixture on top of the saucepan and continue to whisk while gradually adding the butter a little at a time. Continue to whisk over the simmering heat until sauce thickens.
Once sauce has thickened, remove sauce from heat and stir in cayenne pepper and salt to taste. Set aside. Save some of the simmering water in case the sauce needs to be thinned before serving.
Break each egg in a small bowl and drop 1 at a time into the simmering water in the skillet. Cook for about 3 minutes. Remove with a slotted spoon and place on a plate lined with paper towels. Keep the water simmering in case you need to reheat the eggs. You can briefly put them back in the water.
In a nonstick skillet or griddle pan, brown Canadian bacon on both sides. Spread a little butter on each English muffin and place cut side down on skillet to toast.
To assemble, top each English muffin half with a Canadian bacon slice, place an egg on top, and drizzle with some Hollandaise Sauce.