Step 1

Heat oil and butter in a large skillet over medium heat. Add onions and salt; cook, stirring occasionally, for 5 minutes. Add thyme; reduce heat to medium-low and continue cooking, stirring occasionally, until golden brown, 20 to 30 minutes more. (Add a tablespoon or two of water during cooking if the pan seems dry.)

Step 2

Spread each piece of toast with 1 tablespoon goat cheese. Top with 1/4 cup onions and sprinkle with pepper and more thyme, if desired.