Heat the oil in a large pan over medium heat. Add the onion and saute until soft and slightly browned (about 12 minutes). Add the garlic in and cook until fragrant (3 min). 

Stir in the chili powder and mustard. Stir in the peaches, bourbon, brown sugar, ketchup and vinegar. Simmer for 30 minutes until the peaches are really soft. At this point, take it off the heat and let it cool down. 

When it is cool, puree in a blender until desired consistency. This is great on ribs or chicken! Store it in a container in the fridge for a week or freeze it for up to 6 months.