For the peaches, peel and slice the peaches into 1/2 inch slices and set them into a bowl. Add the bourbon and 1/4 cup of brown sugar and toss together. Set the bowl aside for now.
Next make the batter. In a large mixing bowl add the flour, brown sugar, cinnamon, baking powder, milk, salt, and vanilla and combine until no flour is visible.
In an oven safe skillet, brown the butter by heating the skillet on medium and allowing the butter to bubble up. Stir constantly for 2-3 minutes until small brown bits start to form on the bottom of the skillet. The butter will have an amazing nutty smell when it's browned. *See note for optional 9x13 casserole preparation.
Lastly, pour half of the batter into the hot skillet of butter, layer the peaches mixture on top of the batter and dollop the remaining batter on top of the peaches.
Bake at 350 degrees for 30-45 minutes until golden brown and bubbly.
If you are feeling fancy, top each serving with vanilla ice cream or whipped cream and enjoy!
Notes
*Note: If you prefer to use a 9x13 casserole dish instead of cast iron, you can brown the butter in a separate skillet and pour the brown butter into a preheated casserole dish.