Combine water, sugar, chopped figs, cinnamon stick, and nutmeg in a small saucepan.
Simmer over low heat for 10 minutes, stirring occasionally, until the mixture thickens.
Strain the syrup through a fine mesh sieve to remove solids. Let it cool completely before use.
In a cocktail shaker, combine bourbon, lemon juice, spiced fig syrup, and egg white.
Shake vigorously for 15 seconds without ice to create a frothy texture.
Add ice to the shaker and shake again for 20–30 seconds to chill and dilute the drink.
Double strain the cocktail into a chilled coupe or rocks glass using a fine mesh strainer.
Top with a fresh fig slice or a lemon twist for a polished finish.
Enjoy!