In a separate mixing bowl, mix together the peaches, sugar, and brown sugar.
Spoon the peach mixture over the biscuit mixture in the pan.
Sprinkle with pecans or walnuts, if desired.
Bake at 375°F for about 45 minutes to 1 hour, or until golden brown.
Remove from the oven and cool before serving.
Serve with a dollop of whipped cream or a generous helping of vanilla ice cream.
*You can use canned peaches (drained) or frozen peaches, but I highly recommend fresh peaches for the flavor they'll give. See how to pick the best peaches in the post above. **I recommend pecans or walnuts.***Recipe adapted from Betty Crocker.