Melt butter in large saucepan. Add flour, gradually and stir until smooth. Stir in alternately, a little at a time, the cream and the cheese. Add carrots, salt and pepper. Stir in the beaten egg yolks.
Beat egg whites until stiff and fold in.
Bake in a buttered ring mold coated with bread crumbs. Fill not more than 2/3 full. Set in a pan with enough hot water in it to come halfway up on the mold. Bake for about 50 minutes, or until firm, in a preheated 350° oven.
Unmold on a platter. Fill center of ring with tiny creamed peas or mushrooms.