Preheat your oven to 350 degrees. Place the two sticks of butter in your 9 x 13 pan and place it in the middle of the oven to melt
In a large mixing bowl, mix bisquick, sugar and milk together and stir till it is smooth.
When butter is melted and bubbling, pour batter over the butter, taking care because pan will be hot. I usually just leave the pan in the oven but pull the tray out and pour the batter in with it on the shelf.
Take the two cans of peaches and slowly lay the peach slices into the batter reserving the juice. Lay the peaches out as uniformly as possible so that there are peaches all over the cobbler. Then pour the reserved juice over the whole pan.
Bake at 350 for an hour or until cobbler is golden brown. Remove from oven and cool for about half an hour before serving. It will set up in that time. Serve with cool whip or ice cream.