1. Heat butter in a large skillet over medium-high heat until golden brown. Add squash; saute, stirring occasionally, until golden brown and tender when pierced with a fork, about 16 minutes.
2. Add chicken broth, the water, and brown sugar; cook until liquid has evaporated and squash is nicely caramelized, about 6 minutes. Remove from heat, and season with salt and pepper. Serve.