I usually just heat it up in a skillet and serve with two (usually canned) vegetables and Dijon mustard.
But now that it's been mentioned, I may try the spam and eggs route, too. I know it's a classic.
I have a Spam story: Some years ago, the cans of smoke-lavored Spam had a scene with Spam and eggs frying in a skillet in a woodsy setting. By the skillet was a Randall Model 3 knife, the usual version with leather handle and aluminum butt cap. Six-inch blade.
I thought there might be a good story behind that, as an ad studio usually wouldn't have a Randall benchmade knife to photograph. So, I contacted Hormel (Spam's maker) and W.D. Randall, Jr., who was then still living. I got a good article from the effort. Bo Randall told me that the knife belonged to the project's asst. photographer, who just happened to like good knives. He chose the Randall because it suited the scene perfectly. But he got nothing extra for the loan of his knife, and Hormal sent Randall quite a few empty cans of the Spam. He eventually gave them away.
Some of you may have read my story in, Knife World. Gosh, that was further back than I thought.
Smoke-flavored Spam no longer uses that scene on the can, but I do eat a fair amount of Spam, usually the sort with 25% less fat and salt. It probably has more preservatives than are really good for you, but if one doesn't overdo, it should be okay. It beats starving if your meat budget is limited!
My son said that the natives on Guam eat a lot of Spam, and I hear that it's popular in Hawaii, where the natives have some interesting recipies for it. I was told this by a girl from Georgia (not the US state), who looked up Spam when I mentioned it, as she wasn't sure what it is. Once she saw photos, she realized that they have a similar canned meat product there.
This topic appealed to me. I think I'll go heat up some Spam, with Ranch Style beans and some potatoes or spinach. Yum.
Which wine goes well with Spam? I suspect that a good Gewurztraminer or a Sauvignon blanc, or Chardonay. The French often serve white Burgundy (Chardonnay) with ham products. It's pretty salty, though.That's hard to get past.
ADDED: I was typing this as another member posted about the Guam connection. My son was there maybe 12 years ago, and they were still eating it a lot. But I feel sure that member mwtdvm is correct; they've probably been eating it since WW II.