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Using a fork, combine softened butter, tarragon, shallot (or you can use minced garlic and a bit of minced onion to substitute if you don't have shallots on hand), lemon juice, and salt.
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Mix well.
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Using a sheet of wax paper, shape into a log, twist ends tightly and chill for about an hour, until firm.
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Season steaks with pepper and a bit of oil and grill or broil.
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Top hot steaks with a generous slice of butter and serve.
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Leftover butter can be stored in the fridge for about a week, tightly wrapped.