1. Combine first 2 ingredients and 1 1/2 cups water in a medium saucepan. Cook, covered, over low heat 15 to 20 minutes or until figs are plump and softened. Remove from heat; cool slightly (about 15 minutes). Drain figs; gently pat dry with paper towels.
2. Preheat oven to 350°. Cut figs in half lengthwise. Place 1 cheese piece and 1 pecan half on cut side of each fig half. Wrap 1 bacon piece around each fig, and secure with a wooden pick. Place on a wire rack in a 15- x 10-inch jelly-roll pan.
3. Bake at 350° for 6 to 8 minutes or until bacon is crisp and browned.
Note: We tested with Oscar Mayer Fully Cooked Bacon.