Drain peaches, reserving 1/2 cup syrup. Combine peaches, peach syrup, raspberries, brown sugar and cinnamon in a 1 1/2 to 2 qt. microwave-safe container, such as a deep pie plate or 9-inch square baking dish.

Sprinkle 1 1/2 cups granola evenly over fruit. Microwave on HIGH 10 to 12 minutes or until juice starts to bubble up through granola.

Carefully remove hot dish from microwave. Let stand 5 to 10 minutes for juice to thicken and cool slightly. Spoon into individual bowls; top each serving with about 1 Tbsp. granola. Serve with frozen vanilla yogurt, ice cream or whipped cream, if desired.