1 (1 lb.) can sliced cling peaches
1 can evaporated milk
1 (3 1/2 oz.) pkg. instant vanilla pudding mix
1/2 c. water
1/8 tsp. nutmeg

Drain peaches well. Cut peaches in chunks. Place evaporated milk and water in mixing bowl. Add nutmeg and pudding mix. Beat slowly with rotary beater until smooth. Stir in peaches. Chill thoroughly before serving. Serves 6.