Combine first 4 ingredients in a nonaluminum saucepan; bring to a boil. Reduce heat; simmer 5 minutes or until syrupy. Add figs, mustard seeds, and cloves. Cover, reduce heat, and simmer for 10 minutes or until figs are just tender. Remove from heat; discard cloves, and add balsamic vinegar. Serve warm, at room temperature, or chilled.