First, wash your figs, cut off the stems and slice them up into quarters.
In a medium saucepan over medium heat, bring sliced figs and water to a boil. Reduce the heat to medium-low and cook at a simmer for 30 minutes. The liquid will reduce and the figs will become soft.
Place a fine-mesh strainer over a large bowl and strain the fig mixture to yield a smooth, refined liquid. Strain again if any seeds come through. Discard the stewed figs or enjoy them with ice cream or oatmeal.
Measure the hot liquid and add an equal amount of sugar. (Alternatively, measure 1 cup of liquid and 1 cup of syrup.) Stir until dissolved.
Let cool completely, then funnel into a jar or bottle. Use immediately or store in the fridge for up to one month.