Soak the basmati rice in cold water for 15-30 minutes. Drain, rinse and set aside.

Press the sauté button on your Instant Pot and add 1⁄2 cup water to the pot. Once the water begins to steam, pour the milk into the pot. (Make sure the water is steaming before adding the milk as this will prevent the milk from burning at the bottom of the pot.) Add the rice, stir.

Secure the lid, close the pressure valve and cook for 10 minutes at high pressure.

Naturally release pressure.

Press sauté. Add the sugar, peppermint to the pot. Stir until well combined. The pudding will thicken as it cools.

Serve this dessert hot, warm, cold or at room temperature.

Garnish with crushed candy canes prior to serving.