Clean fresh peaches.
Slice peaches into quarter pieces and place them into a sauce pan.
Add water.
Cover the saucepan with the water and peaches and bring to a boil, reduce heat and let simmer for 20-25 minutes.
Add both white and brown sugar, cinnamon and vanilla and mix well together.
Bring jam back to a boil and stir continuously to dissolve all sugars.
Remove from heat and allow to cool uncovered.
Refrigerate once cool. Jam will stay fresh in a sealed container in the fridge for 3-4 weeks.
Serve over anything! Enjoy!