Step 1Brown the bacon until crisp in a large frying pan over medium-high heat, about 5 minutes. Remove the bacon and set aside, leaving the bacon fat in the pan.
Step 2Add the butter and onion and cook, stirring, until translucent, about 2 minutes. Add the parsnips, cover and cook, stirring frequently, until soft, about 10 minutes. Uncover and continue to cook until golden brown, stirring occasionally, about 5 minutes.
Step 3Add the apple, bell pepper and thyme and continue to cook, stirring, until they caramelize a bit, about 5 minutes. Stir in the reserved bacon, season to taste with salt and pepper and serve hot.