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Heat a large cast iron skillet over medium heat, add half the bacon and cook until brown, remove and drain on paper towel
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Carefully drain the grease out of the pan
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Repeat with the rest of the bacon but reserve at least 2 tablespoons of bacon grease
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Add shallots, garlic, figs, and peaches to the bacon grease pan and cook until onions are translucent - about 5 minutes
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Add chili powder, ginger, and mustard and cook another 1-2 minutes
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Add bourbon and maple syrup and increase the heat to medium high, scrape up any brown bits and bring to a boil
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Add vinegar and brown sugar and bring to a boil again
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Add reserved bacon back to the pan
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Reduce heat to low and cook until liquid looks like a thick glaze - about 10-15 minutes
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Remove from heat, cool until warm, and transfer to a food processor
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Pulse mixture several times until it resembles a chunky jam or reaches a texture according to personal preferences