Preheat oven to 400 degrees. Coat a 12 capacity muffin pan with cooking spray. Thinly slice the whole figs.
In a large bowl, combine the cereal and milk. Let sit until softened, about 5 minutes. Meanwhile, whisk together the flour, baking powder and salt in a separate bowl.
Add the applesauce, honey, oil, molasses and egg to the cereal mixture and stir until combined. Add the flour mixture and stir until just combined.
Gently stir in the chopped figs. Spoon the batter into the prepared pan and top each muffin with a fig piece. Tap the pan on the counter a few times to remove any air bubbles.
Bake for about 20 minutes (25-30 with fresh figs) or until toothpick comes out clean. Let cool on wire rack.