Step 1Remove a rough quarter of the pepper, cut it into thin slivers and set it aside.
Step 2With the motor running, drop the garlic through the feed tube of a food processor and mince well. Add the 3/4 portion of the pepper and grind as smooth as you can. Add the goat cheese and grind again. There will still be little bits of red pepper visible in the goat cheese. Stop, scrape down the sides, and then continue processing until the mixture is smooth and light, about 45 seconds. Add the vinegar, pimenton, salt and olive oil and process some more. You should have about 3/4 cup. Cover tightly and set aside until ready to use. If it's going to be longer than 30 minutes, refrigerate.
Step 3Toast the bread until golden just before serving. Spread a generous tablespoon of the topping on each slice of bread and garnish with some of the thinly sliced pepper (don't be too geometric with the garnish, a lazy strewing looks best).