Preparation / Directions:
Heat 1/4 cup olive oil in heavy large pot over medium heat. Mix in sliced onions, sugar, 1 teaspoon salt, and 1/2 teaspoon pepper. Cover and cook until onions are very soft, stirring occasionally, about 30 minutes. Add dry red wine, balsamic vinegar, and grenadine and simmer uncovered until mixture is thick and onions are very tender, stirring often, about 25 minutes. Season confit to taste with additional salt and pepper. Cool. (Confit can be prepared 2 days ahead. Cover tightly and refrigerate. Rewarm confit over low heat before serving.)
Preheat oven to 375 degrees. Arrange bread slices on baking sheets. Brush with oil. Bake until almost crisp, about 5 minutes. Top toasts with confit and serve.
Note: The confit is also delicious as a condiment for chicken, beef, and pork.