Spray medium-size skillet with cooking spray and heat on medium-high heat.
Mix eggs, milk, vanilla extract and apple sauce in square container or large bowl.
Coat both sides of bread with egg mixture and place in skillet.
Cook bread on each side 1-2 minutes or until golden brown and mixture has dried.
When finished, top with bananas and syrup or honey (as desired); sprinkle with powdered sugar (optional).