Preheat oven to 350. Place the stick of butter in a 9x13 pan and put in oven to melt in the bottom of the pan.
In a medium mixing bowl, mix together sugar, bisquick and vanilla extract. Slowly add milk while beating with a whisk. Add more or less milk if needed, batter should be about the consistancy of pancake batter.
Pour half of your batter into the bottom of the pan. Add the cans of peaches spreading them evenly. Then pour the rest of your batter on top of the peaches covering evenly. Sprinkle cinnamon on top and place in oven.
Bake for 1 hour or until top and edges are golden brown. Serve with scoop of vanilla bean ice cream for a richer flavor.