3 freestone peaches (about 6 oz. total)
1¼ cups whole milk, divided
1 cup heavy cream
1 (1/4 oz.) packet unflavored gelatin powder
1 vanilla bean, split and seeds scraped
1/4 cup sugar
Prepare a hot grill.
Peel the peaches, remove the pits, and slice thinly. Arrange the slices on a grill rack, place the rack on top of the grill grate, and grill the peaches for 15 to 20 seconds on each side. Refrigerate to cool.
Pour one cup of milk into a medium heatproof bowl. Sprinkle gelatin over it; set aside.
Combine the remaining 1/4 cup of milk, the heavy cream, vanilla bean pod and its seeds, and sugar in a small heavy-bottomed saucepan, stirring to incorporate. Heat over medium heat, stirring occasionally, until the edge of the liquid begins to bubble. Remove the vanilla pod and add the hot milk mixture to the gelatin. Whisk until fully mixed.
Line ramekins with the cold peaches. Carefully ladle the panna cotta mixture into the ramekins and refrigerate them for three to four hours to set. Place the ramekins in warm water and invert to release the panna cotta. Sealed, the panna cotta will keep in the refrigerator for up to five days.