Heat a charcoal or gas grill to high for direct grilling. Brush the sausages with some of the canola oil, sprinkle with salt and pepper and grill, with the cover closed, until golden brown, slightly charred and just cooked through, about 10 minutes. Remove to a cutting board and let rest 5 minutes before slicing.
While the sausages are grilling, halve the shallots, leaving the skin on, and toss with a few tablespoons each of the canola oil and balsamic vinegar. Sprinkle with salt and pepper. Put them on the grill and cook until charred and slightly softened. Cool slightly, remove the skins and chop.
Heat the remaining canola oil in a saute pan on the grates of the grill until it begins to shimmer. Add the chopped shallots, remaining vinegar, honey, thyme and red pepper flakes and simmer, about 5 minutes. Season with salt and pepper and stir in the parsley.
Arrange the cut sausage on a platter with a bowl of the fresh ricotta, the shallot relish and toasted bread. Serve the bread topped with a dollop of the ricotta, a few pieces of sausage and a spoonful of the relish, drizzled with honey and olive oil. Serve warm or at room temperature.