Slice each fig vertically and then cut each half into approximately 4-6 wedges depending on the size of your fig.
Thoroughly wash and scrub the surface of the lemon, and cut in half from end to end. Cut the lemon into small wedges and remove all seed. Slice each lemon wedge into across into small slivers.
Layer figs, lemon and sugar in a heavy bottomed stock pot or dutch oven. Add water and lemon juice and slowly bring to a boil without stirring.
Remove from heat and allow to cool to room temperature.
Cover with a film of plastic wrap and refrigerate for 8-24 hours. This process will soften skins and create a preserve with proper texture.
Remove plastic wrap and return the fig mixture to a full boil over medium heat, stirring occasionally and very gently. Continue to boil for about 30 minutes or until the liquid is slightly thickened to a light syrup.
Ladle into sterilized half pint jars, leaving ½ inch head space. Wipe rims of jars, place prepared lids and screw on sterilized rings finger tight.
Process in a hot water bath canner for 10 minutes once the water returns to a full rapid boil. After processing, gently remove the jars and allow to cool to room temperature. Before storing loosen or remove rings.