In a medium saucepan over medium heat, combine the peeled and diced fresh peaches, granulated sugar, brown sugar, cinnamon, nutmeg, cornstarch, lemon juice, and vanilla extract. Stir for about 5-7 minutes until thickened.

Lay an egg roll wrapper on a clean, dry surface in a diamond shape. Spoon approximately 2 tablespoons of the cooled peach filling onto the center. Fold the bottom corner up, then sides in, rolling tightly to seal.

In a deep skillet or fryer, heat about 2 inches of vegetable oil to 350°F. Use a thermometer to ensure proper temperature for frying.

Carefully place assembled egg rolls into the hot oil. Fry for 2-3 minutes on each side until golden brown. Remove and drain on paper towels.

Dust fried egg rolls with powdered sugar and serve warm, optionally with vanilla ice cream.