Toast the waffles.

While the waffles are toasting melt the butter in a saucepan.

Add the peaches to the saucepan, saute.

After two minutes add the brown sugar to the saucepan.

Stir peaches and brown sugar until the brown sugar melts.

Put toasted waffles on a plate.

Add two scoops of peach ice cream.

Pour peaches and sauce over the ice cream and waffle.

Sprinkle with cinnamon.

Serve immediately.