Caramelized Pearl Onions

To peel a pearl onion, cut off the roots and put them in boiling water for less than a minute. Drain and rinse with cold water. Pinch the end of the stem of each onion and a peeled onion will pop out. When the onions are ready, shake them frequently to make sure they are evenly browned.
Heat the oil in a medium nonstick skillet over medium-high heat. Melt the butter in a large skillet. Add the onion and cook for 5 minutes or until lightly browned, shaking the pan frequently. Add water and sugar and bring to a boil. Cover, reduce heat and simmer for 8 minutes. Remove the lid and cook for 2 minutes or until the liquid has evaporated. Add thyme and other ingredients; cook for 1 minute.