Peychaud's is a brand of cocktail bitters invented in the late 18th century by New Orleans apothecary Antoine Amedie Peychaud. Like most bitters, the recipe is a secret. Peychaud's bitters are now made by the Buffalo Trace distillery.
Peychaud's is a bright pinkish-red color and clear. It smells of tutti-frutti, licorice, and flowers. By cocktail bitter standards, it is only slightly bitter.
Peychaud's is best known as the bitters in the Sazerac. Both the cocktail and the bitters are strongly linked to New Orleans. Peychaud's is quite versatile in drinks, as it's not as heavy as most bitters.