How would I print out the first instance of a paragraph bundle in a node template?
TWIG

In twig you can check for the paragraph bundle in the items loop of a field template and only print the first item found:

field--node--field-paragraph--content-type.html.twig

  &lt;div{{ attributes }}&gt;
    {% for item in items if item.content['#paragraph'].bundle == 'paragraph_type' %}
      {% if loop.index == 1 %}
        &lt;div{{ item.attributes }}&gt;{{ item.content }}&lt;/div&gt;
      {% endif %}
    {% endfor %}
  &lt;/div&gt;


And then print this field in the node template:

{{ content.field_paragraph }}


UI

For a UI solution you need a field formatter like Paragraphs summary formatter, which in the moment only exists in a sandbox version, see https://www.drupal.org/project/paragraphs_summary/issues/2803859#comment-11804075