Origin & History
Named after the fruit native to Northwest China, introduced to Europe via Persia (hence "Persian apple" in Latin). The colour captures the warm golden-pink of ripe peach flesh.
Psychology
Peach is probably the most universally warm and welcoming of the pastels. It flatters virtually all skin tones and carries none of pink's gender associations.
In Culture
Peach was a ubiquitous bathroom and kitchen colour in the 1980s. In Japanese culture, the Peach Festival (Hinamatsuri) on March 3rd celebrates girls — the peach representing feminine beauty and longevity. In makeup, "peachy" foundations are the most universally flattering nude tones.