Succotash's Gingered Peach Syrup

In a large saucepan, bring sugar, water, ginger, powdered ginger, vanilla bean, and pepper to a gentle boil. Reduce heat and let simmer until sugar dissolves and syrup starts to thicken, about 15 minutes. Strain to remove vanilla bean and ginger slices (ginger can be reserved and dusted with sugar to make candied ginger for snacking). Add peaches and let simmer on low for approximately 30 minutes. When peaches are tender, syrup is done.