Fill a bowl with water and ice. Bring a pot of salted water to a boil. Add favas to boiling water and blanch for 45 seconds to 2 minutes depending on their size. Drain beans and transfer them immediately to ice bath; drain well. To peel, use a fingernail to make a slit in the skin, then squeeze beans out into a bowl.
Break corn cobs in half. Stand each half on cutting board, flat end down, and slice off kernels with a sharp knife.
In a small saucepan over medium low heat, melt 1 Tbsp butter. Add shallots and sauté until translucent and soft, about 5 minutes. Add garlic and sauté for 1 minute longer. Add cream, increase heat, and bring to a simmer. Turn off heat and season with salt and pepper.
In a skillet over medium high heat, melt remaining tablespoon of butter. Add corn kernels and cook for about 30 seconds, stirring. Add fava beans, cream and shallot mixture, and parsley and bring to a simmer. Cook until cream has thickened slightly, about 1 minute. Add more salt and pepper to taste.Makes 6 Source: