Step 1

Combine water and sugar in a medium saucepan over medium heat. Bring to a boil and cook until sugar dissolves, about eight minutes.

Step 2

Add peach slices and vanilla extract to syrup mixture. Reduce heat and simmer, partially covered, until peaches are tender and easily pierced with a fork, about thirty minutes.

Step 3

Discard syrup from the pot and allow the peach slices to come to room temperature.

Step 4

When the peaches are cool, combine in a blender with milk and ice cubes.