Preheat an electric griddle to 350℉.

In a skillet over medium heat, combine the peaches with the brown sugar. Lower the heat and let the peaches absorb the sugar for 6-8 minutes, stirring infrequently so as not to break up the peaches. Add in the bourbon and stir gently. Simmer for 4-6 minutes until the alcohol has dissolved. It will look like peaches in a dark, sticky sauce.

While the peaches are simmering, mix the eggs, water, and spices in a shallow bowl. Dip the bread, coating both sides, and cook on the griddle, only flipping once.

Place the French toast on plates and cover with bourbon peach sauce.

If you prefer, you can serve this sauce over pancakes.