Heat the oil in a skillet over medium heat, add onions and saute about 5 minutes until onions begin to turn golden.
Reduce heat and add apricots and thyme. Cover and cook until onions and apricots are very soft and mixture is golden brown, another 5-10 minutes.
Pulse in a food processor or blender for a few minutes until spread is smooth, but still chunky.
Add salt and pepper to taste. Let cool, serve at room temperature with crackers, pita chips, etc.
Notes
You can use a few strawberries in place of the dried apricots (as I did for the photos). BUT, add them the last minute of two of cooking so they have time to soften but will not interfere with the caramelization of the onions.