For me, summer is all about stone fruit. There was an ad here in Australia a few years ago. A man alone sitting on the edge of a high mountain peak crying while in the background Wendy Matthew's song "The day you went away" played. I do feel a little bit like that when they're finished for another year, which is why eat of them so copiously.
In a medium pan make a weak sugar syrup. All this depends on preference, I don't like it too sweet so for me a 1/3 - 1/2 cup of sugar to perhaps 1 1/2 cups of water. Throw in the juice of an orange and a long strip of its zested skin and bring to the simmer. Make a tiny incision in the peach skin, around the stalk, to assist in getting the skins off later. Gently place your peaches stalk side down first (the syrup will only come 1/3 to 1/2 the way up and simmer for about 8 mins. Then turn over and simmer for a further 8 minutes. That time's for fairly firm peaches to a fairly soft finish - again, depends on your taste.
Fish out the peaches and you'll see that the skin's become loose. If it still seems really firm, you may need to cook longer, otherwise you won't easily get the skins off and no lovely smooth finish. Set the peaches aside to cool. Put the syrup back on the heat, medium, and reduce until you're happy with the consistency. I added the juice of half a lemon and also perhaps 1/4 tsp of vanilla bean paste. When it's cooled strain for a lovely clear sauce.
To remove the peach skins it really should just be a matter of pushing them slowly back. If you have any resistance just be gentle and patient if you want them to be lovely and smooth otherwise, yank away!
Serve with a big scoop of good vanilla icecream or equally some lovely vanilla bean yoghurt and a good splosh of the sauce.