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Pre-heat your oven to 400 degrees F.
Remove the skin from your red onions, and trim the root to remove just the dried/frilly part of the root on the exterior of the onion, keeping the interior of the root intact. Divide each onion into 6 equal wedges.
In your cast iron skillet, heat 3 tbsp of butter over medium-high heat. Once it begins to foam, add your onions with one of the cut sides down. Season generously with salt. Lower the heat to medium, and allow the onions to cook until nicely golden brown. Then flip the onions onto the other cut side, and cook until that side is brown as well. Remove your onions from the pan and transfer to a tray or plate.
If you used your cast iron pan to sear your onions, quickly rinse it clean and wipe it dry. Once the pan has cooled down, spread your sugar around the pan in an even layer. Drizzle your sherry vinegar around the sugar. Place your pan over medium heat, and allow the sugar to caramelize. When the sugar is light brown in colour, turn the heat to low. Add 3 tbsp butter to the pan, and stir over low heat for 90sec-2min.
Turn off the heat and set your pan to the side momentarily. Pick the leaves from your thyme, and sprinkle it around your caramel. CAREFULLY place your onions around the pan in a spiral, being sure to keep the onions as close together as possible.