Preheat the oven to 180°C / 350°F.
Score the tops of the figs about one-third of the way down in two directions to make a cross. Using your thumbs, gently squeeze the base of each fig to open it up slightly.
Whisk the balsamic vinegar, red wine vinegar, honey, Dijon mustard, and thyme leaves together in a small jug until combined.
Scatter the thyme sprigs across the base of a small ovenproof baking dish. Arrange the figs cut-side up on top, leaving space at one end for the Camembert. Drizzle three-quarters of the glaze over the figs, aiming to pour as much as possible into the centre of each fig.
Bake for 10 minutes. Remove from the oven, nestle the camembert wheel into the empty space, and drizzle the remaining glaze over the cheese. Return to the oven and bake for a further 15 minutes until the camembert is soft and starting to ooze and the figs are caramelised.
Serve immediately with crusty bread or crackers.