Here is another recipe I found on recipelink:

MY WOODY`S COOK-IN SAUCE RECIPE

2 tbsp water
2 6oz cans tomato paste
2 tbsp canola oil (soybean oil)
2 tbsp white vinegar
2 tbsp red wine vinegar
3 tbsp liquid hickory smoke flavor (hickory smoke)
1/2 tsp onion powder (spices)
1/2 tsp garlic powder (spices)
1/2 tsp black pepper (spices)
1/2 tsp paprika (spices)
1 tsp salt
1 tsp dark molasses (sugar, carmel color)
2 tbsp worcestershire sauce (soy sauce, carmel color, anchovies, onions, tamarinds, flavoring, etc)
1/4 tsp xanthan gum (thickening agent)

Mix all ingredients and simmer until flavors combine and consistency is right.

This recipe is based on the order ingredients are listed (Water, Tomato Paste, Soybean Oil, White Vinegar, Wine Vinegar, Hickory Smoke, Spices, Salt, Sugar, Soy Sauce, Carmel Color, Anchovies, Onions, Tamarinds, Flavoring, Xanthan Gum, Potassium Sorbate, Sodium Benzoate, FD&C Red No 40), what I taste, and things found in most kitchens. Real Woody`s is a little darker (more carmel color & Red no 40) and tastes more strongly of tamarinds.

SF Bill: On the two bottles I have in hand (I found another one!), anchovies are NOT listed in the ingredents. These are marked "Best by July 10, 2008".