To remove the skin, simply guide the knife along the peach to score the skin, boil for 2 minutes, immerse into an ice bath, and the skin will easily come off. Cut the peaches into cubes.
Add the peaches, sugar, lemon juice, a cinnamon stick, vanilla extract, bourbon, and ¼ teaspoon of vanilla bean powder (optional) into a Dutch Oven or Instapot. Cook over medium-high heat until the peaches are tender, about 8 to 10 minutes.
In a food processor, blender, or with a handheld immersion blender, add the peach mixture. Remove the cinnamon sticks before blending. If you desire more cinnamon flavor, add ¼ tsp of cinnamon powder. Purée until nice and smooth.
Strain the puree mixture through a fine mesh strainer, stirring. This will make it even smoother.
Over medium heat, return the puree, and cook until it thickens, around 6-8 minutes, while stirring. If using an Instapot, set it to sauté until it thickens.
Once it thickens, let it cool for 30 minutes before pouring into a mason jar. To clean the mason jars, I like using the dishwasher since it sanitizes over high heat. Let it cool for at least 1 hour before putting the lid on. Refrigerate for up to 2 weeks. Smother it over toast, pancakes, peanut butter sandwiches... there are endless possibilities! Enjoy!