Cut an X in the bottom of the peaches and plunge into a large pot of boiling water for 1 minutes. Refresh immediately in ice water until cool enough to peel. Peel and slice into 1/2” slices.
In a heavy pot combine the sugar, vanilla bean and water. Bring to a boil until sugar dissolves. Add the bourbon. Add the peaches and simmer for about 5 to 7 minutes. Remove peaches with a slotted spoon and cook the syrup over high until reduced by half.
Put peaches in jars. Pour over syrup. (reserve any extra syrup). Store in refrigerator.
Serve cold with peach or vanilla ice cream.