1 can (15 ounces) diced or sliced peaches in natural juice
1/4 cup granulated sugar
1 tablespoon cornstarch
2 tablespoons peach brandy or Schnapps, or peach nectar or more juice
1/2 teaspoon almond flavoring or vanilla
dash nutmeg or cinnamon, optional
      

-Drain peach juice into a bowl. Dice the peaches and set aside.
-In a saucepan combine 1/2 cup peach juice, the sugar, cornstarch, and peach brandy
 or Schnapps (or more juice). Cook, stirring, over medium-low heat until thickened
 and bubbly. 
-Add the peaches, flavoring, and spices, if using. Stir to blend and heat through.