In a large saucepan melt margarine or butter over low heat. Add squash, carrot, onion, garlic, dried thyme, and pepper. Cover and cook 15 to 20 minutes or till vegetables are crisp tender, stirring occasionally.
Stir in condensed soup and milk. Bring to boiling; reduce heat. Simmer, covered, 5 minutes.
Ladle into bowls. Garnish with thyme sprigs or sprinkle with green onion, if desired.