Heat your oven to 350°F and grab a 10-inch cast iron skillet. Melt the 1/2 cup butter directly in the skillet in the oven (this takes about 3 minutes and saves you a dish). Pour the melted butter into a bowl once it's ready so you can work with the empty skillet.
Mix your 4 cups sliced peaches with both sugars and the cinnamon in a medium bowl. Toss everything together gently so the peaches get coated but don't get all mushy. Let it sit for a minute while you prep the topping—the juices will start releasing and that's exactly what you want.
In another bowl, whisk together the flour, baking powder, salt, eggs, milk, and vanilla bean paste until you get a smooth batter. It'll look kinda like pancake batter and that's perfect. Don't overmix—just combine until you don't see dry flour streaks anymore.
Pour that melted butter back into your cast iron skillet and swirl it around to coat the bottom and sides evenly. This prevents sticking and gives you those gorgeous crispy edges that everyone fights over.
Spread the peach mixture across the buttered skillet in a single layer, then pour the batter over top. Don't stir it together—seriously, just pour and let it distribute naturally. The batter will rise up during baking and create that amazing topping texture.
Sprinkle your 1/4 cup chopped pecans over the top for crunch (this step is optional but honestly worth it). Pop the whole skillet into your preheated 350°F oven and set a timer for 45 minutes.
The peach cobbler cast iron is done when the topping is golden brown and a toothpick inserted into the cake part comes out clean. Let it cool for about 10 minutes before serving—I know it's hard to wait but those first few minutes it's molten hot underneath.