Place the shallot in a fine-mesh sieve and quickly rinse with cold water. Allow to drain, then place in a medium bowl. Add vinegar and warm water, and let the shallot mixture sit for 2 minutes
Whisk in oil, honey, both mustards, thyme, garlic, salt and pepper. Taste and adjust the salt and vinegar as needed.
Cover and refrigerate remaining dressing for up to 1 week.
