1In a medium pot, combine peaches, sugar, and 2 cups of water. Bring the mixture to a boil over medium-high heat.
Cover and reduce heat to medium-low. Simmer for 20 to 30 minutes or until the peaches are falling apart.
Strain the peach syrup using a fine mesh sieve over a medium bowl. Set peach syrup aside. (Save cooked peaches for another recipe or discard.)
Meanwhile, in a medium pot, bring 3 cups of water to a boil over medium-high heat. Remove the pot from heat and place the tea bags into the water.
Allow to steep for 8 to 12 minutes. Gently press any excess liquid from the tea bags and discard the tea bags.
Pour syrup into a gallon-size pitcher, add the homemade iced tea. Add the remaining water one cup at a time, tasting between additions until you reach the desired sweetness.
For best flavor, refrigerate overnight before serving.