In a small saucepan combine the water, honey and sugar and set over medium heat. Stir until the sugar and honey are dissolved then bring the mixture to a simmer. Let simmer for 5 minutes. Remove from the heat and add in the fresh thyme. 5 sprigs for a subtle thyme flavor, 10 for stronger. Let steep 30 minutes to one hour. The more thyme sprigs you use and the longer you steep it the stronger the thyme flavor. Strain out the thyme and pour into a resealable container or jar. Place in refrigerator until completely chilled. This can be made a day ahead of time. This makes a little over a cup of syrup.
To make the lemonade:
Combine a cup and a half of the lemon juice, honey syrup and stir well. Add in 4 cups of cold water and stir. Taste and add in more water, syrup or more lemon juice depending on how tart, sweet or strong you like your lemonade.
Keep chilled until ready to serve. Serve over ice with a fresh lemon slice and a sprig of fresh thyme.
Notes
You can make the honey syrup a day or so ahead of time. Keep chilled until ready to use. It makes a little over a cup of syrup. You can use it all in the lemonade or save a little to sweeten a cocktail. You don't have to use meyer lemons but I find they are a little less acidic than traditional lemons. Fresh thyme works best for this recipe. If you can't find fresh you can omit it, but it wont have that nice herby note to the lemonade. Use only a few sprigs for a hint of thyme, more if you want a stronger flavor.