Melt 1 tablespoon butter in heavy large pot over medium heat. Add onion and garlic; cover and cook until soft, stirring occasionally, about 7 minutes. Add chopped sage; stir for 1 minute. Add squash and broth. Increase heat to high and bring to boil. Reduce heat and simmer until squash is tender, about 25 minutes. Cool slightly.
Puree soup in batches in blender until smooth. Return soup to pot. Mix in cheese. Season to taste with salt and pepper.
Melt remaining 2 tablespoons butter in heavy large skillet over medium heat. Add the 24 sage leaves and sauté until brown and toasted, about 2 minutes. Bring soup to simmer. Ladle into bowls.
Before serving, garnish with fried sage leaves.