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Combine the water, sugar and peaches in a saucepan. The peaches do not need to be peeled. Bring the mixture to a boil and allow to simmer for about 5 minutes. Remove the pot from the heat. Allow to cool for 20 minutes.
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Once the mixture is cooled, transfer the mixture to a blender. Allow a crack in the lid to release steam while blending. Cover the crack with a dish cloth to avoid making a mess. Blend the mixture until it is smooth. Don’t worry about the peach skins, they will give the drink a beautiful color. Stir in the lemon juice. Refrigerate the mixture until it is chilled, about 4 hours.
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Before serving the lemonade, pass the liquid through a sieve. Discard the solids. Fill the glass half full with ice. Pour your lemonade mixture over the ice and serve.