Stem and roughly chop figs. Bring cut figs, sugar, balsamic vinegar, and water to boil in 12-in skillet over medium-high heat.
Once boiling, add remaining ingredients. Simmer over medium-low for 35 to 40 minutes. Remove from heat when rubber spatula leaves a distinct trail across bottom of skillet and mixture is jam-like.
Remove from skillet and transfer to food processor. Pulse ~6 times, till uniform but still chunky.
Transfer to three 8-oz -or- six 4-oz jars and let come to room temperature. Clean rims, seal with lids, and store in refrigerator for up to 1 month.
Served here on baguette slices with goat cheese and blue cheese (and apothic red wine). Cheers!