Combine sugar and water in a medium, heavy saucepan over high heat. Bring to a boil; cook 1 minute. Add cherries; cook 1 minute. Reduce heat to medium-low; cook 20 minutes. Remove cherries from pan with a slotted spoon.
Cook cherry liquid until reduced to 1/4 cup (about 15 minutes). Remove from heat. Add cherries to pan; stir in lemon juice. Cool.
Cut each bread slice crosswise into 3 strips. Arrange in a single layer on a baking sheet; broil 1 minute on each side or until toasted. Cool completely. Cut each cheese slice in half diagonally. Arrange 3 bread strips on each of 5 plates. Top each bread strip with 2 slices cheese and about 1 tablespoon compote.