In a mixing bowl, dissolve yeast in warm water. Add sugar and let stand until it gets frothy (5 to 10 minutes).
Add the milk, 1 tablespoon butter and egg; mix well.
Add flour and salt, beat until smooth.
Cover and let rise in a warm place until doubled, about 45 minutes.
Brush griddle and 3-in. metal rings or open-topped metal cookie cutters with remaining butter.
Place rings on griddle, heat over low heat.
Pour 3 tablespoons of batter into each ring.
Cook for 7 minutes or until bubbles begin to pop and the top appears dry.
Remove rings.
Turn crumpets, cook 1-2 minutes longer or until the second side is golden brown.
Serve warm or let cool on a wire rack and toast before serving.