Place chopped bacon in a cold skillet and cook over low heat until mostly crispy, about 10 minutes.
Remove bacon onto paper towel lined plate, and pour off all but 1 tablespoon of rendered bacon fat.
Return pan to heat, and add sliced onion. Cook and stir until soft and starting to brown, about 5 minutes.
Stir brown sugar into onions, and cook over the lowest heat setting for 15 minutes, or until very soft.
Deglaze the pan with vinegar, soy sauce bourbon, and maple syrup; stir in completely.
Continue to cook on lowest heat setting 20-30 minutes or until sauce has thickened and bacon is softened.
Slowly drizzle and stir in water until slightly loosened, and becomes a spreadable consistency.
Transfer mixture to bowl of food processor, and pulse for 20-30 seconds, or until you reach the consistency you want.
Cool to room temperature, store in sealed, airtight container.