Drain peaches well, saving juice.
Measure peach juice and add enough water to make 1 cup liquid, if necessary.
Combine about 1/4 cup of this liquid with the cornstarch and stir until smooth.
Heat remaining liquid to boiling and stir in cornstarch mixture gradually.
Bring back to a boil, stirring constantly.
Turn down heat and cook gently 1 minute, stirring.
Remove from heat and cool.
Dry peach slices on paper towelling and cut into small pieces.
Beat sour cream and milk together in small mixer bowl.
Add pudding mix and nutmeg and beat slowly 2 minutes.
Let stand about 2 minutes or until quite thick.
Fold in peach pieces.
Spoon layers of pudding and thickened peach juice into parfait glasses or goblets making 3 layers of pudding and 2 of peach juice.
Chill until serving time.