New Year's Black-Eyed Peas

Warm 2 Tbsp. extra-virgin olive oil in a large saucepan on the stovetop over medium heat. Add 4 oz. slab bacon, cut into ½" pieces (if using), and cook, stirring occasionally, until some of the fat begins to collect in the pan and bacon starts to look shiny, about 5 minutes.

Add 1 medium onion, finely chopped and cook, stirring occasionally, until golden and tender, about 5 minutes. Add 5 sprigs thyme, 4 garlic cloves, smashed, 2 cups dried black-eyed peas, soaked overnight, drained, and 8 cups cold water and bring to a simmer over medium-high. Reduce heat to medium-low and simmer gently, skimming any foam from surface, until beans are tender, 35–45 minutes. Discard thyme; season with kosher salt.

To serve, drizzle beans with extra-virgin olive oil and top with thyme leaves and freshly ground black pepper. Do ahead: Dried beans can be cooked 3 days ahead. Let cool; cover and chill.