Juice lemons, strain and set aside the lemon juice.
Peel peaches, take out the pits, and slice them. Add peaches into a sauce pot and combine with sugar, vanilla extract, and 2 cups of water.
Stir and bring the mixture to simmer over medium heat. Lower the heat a little and let peaches cook until softened.
Pour the peach mixture into a pitcher through a strainer. You can add some of the peaches to the pitcher or all of them. Add remaining cold water to the pitcher and fresh squeezed lemon juice.
Stir everything together and refrigerate until cold.
Notes
Adjust the sweetness: This lemonade recipe is mildly sweet. If you want to make your lemonade sweeter, you can simply add 1/4 to1/2 cup more sugar. Add about 1/4 at a time and make sure its thoroughly incorporated before adding more.
Make ahead – this is the perfect drink recipe to make ahead of time. In fact, it’s best to make is a few hours or a day before you actually need it. Don’t add any ice and refrigerate it in the air-tight container.
Storing – Make sure to store peach lemonade in an airtight container (like a pitcher with the lid on) in the refrigerator. It’s always best to pour some out when you need to rather than scoop some out with a ladle. Properly stored, it should last for up to 10 days.
Freezing – you can make the lemonade concentrate by combining the peach syrup (with or without peaches) and the lemon juice together and freeze that. Freeze the concentrate in an air-tight freezer friendly container. Thaw slowly in the refrigerator and then mix it with cold water.