Preheat oven to 350 °F (175 °C). Grease a 9×13-inch baking pan and set aside.
In a medium bowl, stir together crushed pretzels and ½ cup sugar. Pour in melted butter and mix until well combined.
Press the pretzel mixture firmly into the bottom of the prepared pan, creating an even layer. Bake 8–10 minutes, until lightly golden. Remove from oven and let cool completely.
While crust cools, beat together the softened cream cheese and ½ cup sugar in a large bowl until smooth and creamy. Fold in the whipped topping until fully incorporated.
Spread the cream cheese mixture evenly over the cooled pretzel crust. Return to refrigerator while you prepare the gelatin layer.
In a heat-proof bowl, dissolve both packages of peach gelatin in 2 cups boiling water, stirring until fully dissolved.
Stir in 2 cups cold water. Allow the gelatin to cool to room temperature, but do not let it begin to set.
Stir the chopped peaches into the cooled gelatin mixture, then gently pour over the cream cheese layer, distributing fruit evenly.
Refrigerate for at least 3 hours, or until the gelatin layer is fully set.
Slice into squares and serve chilled. Store leftovers covered in the refrigerator for up to 3 days.
Tips & Variations
For a fresh-fruit version, substitute 2 cups diced fresh peaches and use unflavored gelatin with peach nectar.
Sprinkle a few extra crushed pretzels on top just before serving for crunch.
Allow each layer to cool slightly before adding the next to prevent melting or bleeding of layers.
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