Melt ½ tablespoon butter in a Dutch oven or stockpot set over medium heat. Add onions and peppers; cook for 2 minutes. Stir in the sausage and cook for 10 minutes or until browned and cooked through, breaking up the sausage into crumbles as it cooks.
Add garlic, season with salt and pepper, and cook for 1 minute. Using a slotted spoon, remove the sausage mixture from the pot and set aside.
Melt the remaining butter in the pot set over medium heat; add squash to the pot and cook for 2 minutes. Then, stir in the chicken broth; add bay leaf, increase heat to high, and bring to a boil. Reduce the heat to a steady simmer and continue to simmer, covered, for 12 to 15 minutes or until the squash is tender. Start checking around the 10-minute mark. Note: The larger the chunks of butternut squash, the longer it will take for them to soften.
Remove from heat. Discard the bay leaf. Remove a couple handfuls of butternut squash chunks from the soup and set aside. Using an immersion blender, blend the soup until smooth. You can also blend the soup in a traditional blender and return the soup back to the stockpot.
Return the butternut squash chunks back to the pot and set the pot over medium heat. To the soup, add the beans, tomatoes, and previously prepared sausage mixture; cook for 3 to 4 minutes or until heated through.
Taste for salt and pepper, and adjust accordingly. Drizzle with cream and garnish with parsley. Serve.
