1.. Preheat oven to 350.
2. Mix together pretzels, 1/4 cup white sugar and butter.
3. Press into a 9x13 baking pan and bake for 10 minutes. Cool completely.
4. Beat together cream cheese and remaining 1/4 cup sugar. Beat in whipped topping.
5. Spread on top of cooled crust. Refrigerate.
6. Mix together boiling water and gelatin until dissolved, about 2 minutes. Refrigerate for 1-1/2 hours. Mixture will still be liquid.
7. Add peaches to gelatin and carefully pour on top of whipped topping layer. Refrigerate overnight.
8. Slice into bars and serve.