In a saucepan over medium-low heat, combine the sugar and cornstarch; add the juice and blend well. Cook until thickened, stirring frequently. Add almond flavoring, the peach slices, and the sliced strawberries; heat through.
Serve over slices of pound cake, angel food cake, ice cream, or biscuits. Or use it as a sauce for pancakes or waffles.
Notes
*Replace the canned peaches with 2 cups of fresh sliced peaches and use 1/2 cup of peach nectar in place of the juice.