Combine milk and water in a small pot over medium heat, bring to a simmer.
Add the oats, stir and bring to a boil; reduce heat to simmer.
Add the pumpkin, pumpkin pie spice and brown sugar stirring until well combined.
Continue to simmer the oatmeal, stirring occasionally until most of the liquid has been absorbed or desired consistency is reached (pending which oats you cook refer to the package instructions on how long to cook oats)
Remove from the heat and add the vanilla extract and stir well. *
Serve immediately, garnish with favorite toppings like chopped pecans, pumpkin seeds, granola, maple syrup, whipped cream etc..