Heat a skillet on high until it just begins to smoke. Then turn the temperature to medium low. Drizzle oil in the pan and add onions. Move them around the oil. Cook onions on medium low for 10-15 minutes with the lid on, stirring occasionally to prevent burning.
When onions are softened and golden brown, add in diced figs, sherry wine, water, and salt. Allow to simmer another 5 minutes until figs have softened. Then remove from heat and allow to cool. Serve or store in a dry clean container with a lid.