Fill a short glass with ice.
Muddle 3–5 dashes of Peychaud's bitters with one sugar cube.
Add ice and 2 oz. of rye (preferably Sazerac, but sometimes you go to two specialty liquor stores to no avail and decide to use Rittenhouse, which is also very good).
Dump the ice from your drink glass and add 1/4 oz. Herbsaint.
Rotate the glass to coat the interior and pour out any excess - an absinthe rinse.
Crease or twist the lemon peel to release its essence.
Run the lemon peel around the rim (you can also do this after pouring the drink in).
Strain your drink into the glass and add the lemon peel!