Combine the honey, water and figs in a small saucepan. Bring to a simmer over low heat and whisk continuously until the honey is melted and the figs begin to soften. Add the thyme and let simmer for an additional 10 minutes, stirring often.
Remove from heat and let the mixture sit for a few minutes. Remove the thyme sprigs from the honey mixture and use a food processor or immersion blender to blend the honey and figs into a smooth syrup.
In a small pitcher, combine the champagne, apple cider and orange liquor. Add two tablespoons of the fig syrup and stir. Pour into two glasses and garnish with extra thyme and fig slices.
Notes
Feel free to scale the recipe up to make enough for a crowd.