1. Preheat oil in a sauté pan over medium low heat.
2. Add onions, cover and cook for 5-7 minutes.
3. Stir in water and sugar, simmer 5-7 minutes or until mixture slightly thickens.
4. Mix in bacon and simmer 1 minute.
5. Remove from heat and refrigerate until ready to serve.
Tip: For a thicker topping allow mixture to simmer an additional minute after bacon has been added.