Cook your bacon and set aside on paper towels to drain.
Chop your onions and using some of the bacon grease, caramelize them.
When the onions are well on their way to being caramelized, add the chili powder and paprika and stir to combine.
Carefully add the bourbon and syrup, bring to boil and let cook for 2-3 minutes.
Add the balsamic vinegar, brown sugar, and crunched bacon and stir to combine.
Let cook for 2-3 minutes and remove from heat. Place in jars/containers, and let cool.
Store in fridge for up to four weeks.
