This is such a delicious spread! I've made it many times! Its easy to make and easy to eat! This spread goes SO fast at parties! You'll probably want to double this recipe because you won't be able to stop eating this! I found this recipe on a cooking site...it was posted by a cook known as Jimrug. The photo is my own.
Heat 12 inch skillet on Med Low. Add oil and butter. Stir in onion and sugar. Season with Salt & Pepper. Cover and cook approximately 10 minutes stirring occasionally. If your doubling this recipe, than also double ALL the cooking times.
Remove lid and increase heat to Med High. Cook until onions are dark brown and quite soft. Approximately 10- 15 minutes.
Remove from heat, stir in water. Transfer to a food processor. Add rum, vinegar and thyme. Pulse to a jam like consistency. Refrigerate 1 hr or up to 1 week.
Serve as spread on crackers or as a condiment on a cheese board.