If using fresh lima beans, bring a pot of water to a boil. Add the lima beans and cook for about 10 minutes or until tender. Drain and set aside.
If using frozen lima beans, follow the package instructions to cook them. Drain and set aside.
In a large skillet, heat the vegetable oil or butter over medium heat.
Add the chopped onion and minced garlic. Sauté until the onion is soft and translucent, about 5 minutes.
Add the diced red and green bell peppers to the skillet. Cook for another 5 minutes until the peppers are tender.
Stir in the corn kernels and cooked lima beans. Cook for another 5 minutes, stirring occasionally.
Add the halved cherry tomatoes to the skillet and cook for 2-3 minutes until they start to soften.
Pour in the heavy cream or coconut milk. Stir well to combine and cook for another 2-3 minutes until the mixture is heated through.
Season the succotash with salt and black pepper to taste.
Garnish with chopped fresh parsley or cilantro before serving.
Enjoy your meal!