Step 1 Preheat the oven to 350 degrees. Heat the butter, brown sugar and heavy cream in a skillet or small saucepan over low heat. Cook, stirring, until the butter has melted and the mixture is smooth. This only takes a minute or two.
Step 2 If using a cake pan, pour the topping from the saucepan and spread it evenly across the bottom of the cake pan. Put the peach halves on top of the topping, pitted-side up. The smooth, rounded part of the peach will show when the cake is turned out of the pan onto a plate. Set this aside while you prepare the cake batter.
Step 3If baking the cake in a skillet, arrange the peach halves on top of the topping, pitted-side up and set aside while you prepare the cake batter.