Bring a small saucepan of water to a boil. Ensure that it has enough water to cover the peaches. While the water is coming to a boil, fill a bowl with water and ice.
Boil the peaches for 50 seconds. Transfer them immediately to the ice bath using a slotted spoon. When the peaches are cool enough to handle, remove them from the ice bath and peel off the skin. Dice the peaches.
Bring sugar, peaches, and water to a boil over medium-low heat in a large pot, stirring regularly.
1 cup granulated sugar, 1 pound peaches, 1/2 cup water
Boil for 10 minutes, stirring occasionally.
Transfer the mixture to a blender and blend until smooth.
Strain the syrup using a mesh strainer and store the remaining syrup in the refrigerator for up to a month in an airtight container.
Notes
It really helps during peeling if you score the peaches. Use a small paring knife to cut a small X at the bottom of the peach. Then when you pull them out of the ice bath, you can just pull down on the scored pieces for peeling.