Place water and sugar in a pan and cook on medium heat until sugar is dissolved. Add figs and lemon juice and bring to a boil.
Turn down the heat and simmer for about an hour with a lid mostly on. Take the time to stir and mash the mixture every once in a while. The figs will start to break down and the peels will start to break down.
After an hour, remove from heat and allow to cool. Mashup any remaining chunks of fig. If there are still larger pieces of skin, you can give the jam a quick pulse in your food processor or blender. Place in a sealable glass jar and keep the jam into the fridge for up to 2 weeks.