Make peach syrup: In a saucepan, combine peach slices, 1 cup water, and honey/sugar. Simmer over medium heat for 10–12 minutes until peaches are soft and syrupy. Mash slightly and strain, reserving the liquid.
Brew tea: Bring 3 cups water to a boil, add black tea, and steep for 3–4 minutes. Remove tea bags (or strain leaves).
Combine: Stir peach syrup into the brewed tea. Chill in the refrigerator for at least 1 hour.
Serve: Pour over ice, garnish with fresh peach slices, and enjoy.