In a blender, combine 2 cups of peeled, chopped peaches, 2 tablespoons of fresh lemon juice, and ⅓ cup of granulated sugar. Blend until smooth, about 30 seconds.

In a medium bowl, beat 4 oz of softened cream cheese until smooth. Add the peach puree and 1 teaspoon of vanilla extract, mixing until fully combined.

In a separate chilled bowl, whip 1 cup of heavy whipping cream with 2 tablespoons of powdered sugar until soft peaks form, about 3-5 minutes.

Gently fold the whipped cream into the peach and cream cheese mixture until just combined.

Spoon the mixture into serving glasses, cover with plastic wrap, and chill in the refrigerator for at least 2 hours.

Garnish with fresh peach slices or whipped cream before serving.