In a small saucepan over high heat, bring brown sugar, granulated white sugar, bourbon and water to a boil. Add peaches, reduce heat to medium high for 2-3 minutes, stirring occasionally then reduce to medium heat or until there’s a gentle bubble. Allow liquid to reduce to a syrup-like consistency, around 5-6 minutes, or longer. Remove from heat, and allow to cool. As the syrup cools, it will also become thicker in consistency.
In a shallow bowl, whisk together milk, eggs, cinnamon, nutmeg, salt, vanilla, and brown sugar until very well combined. Then in a large skillet or pan melt butter and add oil over medium high heat.
Dip slices of bread into the egg mixture for roughly 20 seconds each side (ensure to flip only once and work in batches if needed). Add dipped slices of bread to pan and fry until golden brown on both sides and cooked though, remove and set aside.
When ready to serve, drizzle french toast slices with bourbon peach syrup, top with bourbon infused peach slices, and a sprinkle of confectioners/powdered sugar, enjoy!