1. Preheat a grill to medium.
2. For walnut dressing: Whisk vinegar, mustard, 1/2 teaspoon salt, and black pepper in a small bowl. Gradually whisk in oils until smooth and slightly thick. Stir in shallot and thyme.
3. For salad: Lightly brush figs with olive oil and grill, turning occasionally, until soft and lightly charred, about 6 minutes. Remove from grill and season with salt and black pepper to taste. Brush sliced bread with olive oil and grill until lightly toasted.
4. Toss frisee, watercress, and walnuts with dressing. Add goat cheese and toss lightly. Divide salad among 4 plates, top with warm figs, and serve with toasted bread.
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