In a large saucepan, combine chopped figs, sugar, balsamic vinegar and bundled peppercorns. Bring mixture to a boil over medium-high heat, stirring occasionally. Reduce heat to low and simmer until the mixture reaches a temperature of 220°F. Continue to stir occasionally while the mixture is simmering. Try to break up any large chunks of fig while stirring; however, you want to keep the consistency of the jam chunky.

Once the mixture reaches 220°F, remove the saucepan from the heat. Test the consistency of the jam by placing 1 tablespoon of the mixture in small bowl. Place the bowl in the refrigerator for 10 minutes. If you find the jam is a bit too runny after 10 minutes, return the saucepan to the heat and simmer away for another 5 – 10 minutes.

Once you have reached a desired consistency, remove the saucepan from the heat and let cool. Remove the bundled peppercorns and discard. Stir in 1 teaspoon of lemon juice and taste the jam. Add more lemon juice if needed. Transfer mixture to a canning jar or other container. Once the mixture is completely cooled, store in the refrigerator.