In a 10-inch ovenproof skillet combine 2/3 cup sugar and 1/2 cup butter. Bring to boiling over medium heat, stirring occasionally. Reduce heat to medium-low and cook, without stirring, for 8-10 minutes more, or till mixture just begins to turn brown. (Mixture may separate.) Remove from heat.
Arrange peaches, pitted sides up, in a layer on top of the sugar mixture, overlapping if necessary. Cover and cook over low heat about 10 minutes, or till peaches are tender.
Meanwhile, in a medium mixing bowl combine the flour and 1/4 cup sugar. Cut in 2/3 cup butter till pieces are the size of small peas. Using a fork, stir in egg till all dough is moistened. Form dough into a ball.
On a lightly floured surface, slightly flatten dough. Roll dough into a 10-inch circle, trimming to make an even circle. Cut slits in pastry. Wrap pastry around rolling pin; carefully unroll over peaches in skillet. Bake in a preheated 375° oven about 30 minutes, or till pastry is golden. Remove skillet from oven. Cool in skillet on a rack for 5 minutes. Invert onto a large serving plate; lift off skillet. Serve warm with yogurt or sour cream, if desired.
Recipe reprinted by permission of Weldon Owen. All rights reserved.