In a large skillet or dutch oven, cook bacon over moderately high heat until crip, 5-7 minutes.
Drain on paper towels and reserve the bacon fat for later use.
Peel, core and grate the apples with a hand grater.
When grated put the apple in a clean kitchen towel and squeeze dry.
Cut the bottom stem of the Brussel sprouts to partially remove the core then, if using a food processor, shred them. If cutting by hand, cut the sprouts in half from top to bottom and then slice into thin slices.
Add 2 tablespoons of the bacon fat to the skillet or dutch oven and then add the Brussel sprouts, stirring frequently.
Add more bacon fat as needed. Saute sprouts about five minutes to keep them crisp/tender. Salt and pepper to taste, then add grated apple, bacon pieces and thyme and cook two more minutes until apple and bacon are warmed.