Start by making the sweet peaches. Pit and peel all the peaches, and slice into about 1/2" thick slices. The easiest way to achieve this is to cut your peach in half, twist and pull apart, and remove the pit. If the peaches are ripe enough, the skin may just peel off. Otherwise use a knife to peal off the skin.
Place your peach slices in a medium to large bowl. Squeeze the juice from half a lemon over top (about 1 1/2 Tbsp if using lemon juice only).
Pour sugar over top of peaches and mix until well combined. Place a lid or plastic wrap over the bowl and allow these to sit as long as possible. At least 30 minutes, but the longer they sit, the softer and juicier the mixture gets.
Yellow Cake
Pour your yellow cake mix into a mixing bowl and follow the instructions on the back of the box, with some adjustments below.
Use milk in place of water when adding ingredients.
Add about 3 Tbsp of real butter to the cake mix (in addition to the oil and butter already called for). The cake mix I used called for 1/3 C butter, so I did 1/2 C instead.
Proceed with all other ingredients and instructions as normal. Your cake batter will likely be very thick, that is okay. Smooth it into a 9x13 pan as evenly as possible.
Bake at the recommended time and temperature, or until a toothpick inserted in the middle comes out smoothly and clean.
Allow the cake to cool before cutting.
Putting It Together
Place a piece of cake at the bottom of a bowl.
Scoop your desired vanilla ice cream amount on top of the cake.
Add your desired amount of peaches on top. (I did about a half cup of peaches).
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