Blanch and peel the pearl onions, if using fresh.
Melt the butter in a skillet over medium heat.
Add the pearl onions and sauté until lightly browned, about 5 minutes.
Pour in the broth and add the thyme, salt, and pepper.
Bring to a simmer, then reduce heat and let the onions braise for 20-25 minutes, until very tender.
Serve the braised pearl onions as a side dish.
