Wiktionary
toast of the town
n. (context idiomatic dated English) A person, male or female, who is admired and very popular in local society, and who is sought-after to attend party, public events, etc.
Usage examples of "toast of the town".
I feel in my bones that within a few short months Dianne will be the toast of the town.
I hear she used to be the toast of the town, the belle of the bars.