2 cans water chestnuts, cut in half if lg.
1 - 1 1/2 lbs. bacon, cut in 1/3 slices

Roll bacon around chestnuts, secure with toothpick. Bake on broiler pan about 25 to 35 minutes at 350 degrees. Simmer in pan:

14 oz. catsup
1 jar strained baby peaches
8 tbsp. sugar

Spoon over chestnuts, let sit overnight or freeze until ready to use. Reheat and serve.