If you have onions, butter, water, salt and about an hour, do yourself a favor and whip up a batch of caramelized onions! Then proceed to put them on everything.
In a large stainless steel skillet, heat the butter over medium heat. Add the onions and stir until evenly coated with the butter. Cook the onions, stirring every 5 minutes, for 20 minutes. Be careful not to burn the onions.
Add the water, stir, and continue to cook for another 20-30 minutes; stirring occasionally. Season with kosher salt to taste.