Peel and slice 3-4 ripe peaches into small wedges and set aside.

In a medium saucepan, warm 2 cups of milk or cream over medium heat, stirring in half of the sugar and 1 teaspoon of vanilla extract.

In a mixing bowl, whisk together 4 egg yolks, the remaining sugar, and 2 tablespoons of cornstarch until pale and thickened.

Slowly whisk the heated milk mixture into the egg yolk mixture, then return to the saucepan and heat over low.

Cook the custard over medium-low heat, stirring constantly, until it thickens (about 5-7 minutes).

Layer sliced peaches in serving bowls and pour the warm custard over them.

Cover with plastic wrap and refrigerate for at least 2 hours before serving.