A peach pie is a special form of the peach in Minecraft. It is made by combining a bowl with 2 inedible items in one slot, in a crafting grid, e.g.:
2x Bowls + 2x Potato = Peach Pie
If you are using silk touch to obtain the peaches you will not get any bowls back if you make them into pies. However, you can still get the bowls back if you use shears or an axe. Keep this in mind since it can be easy to lose up to two bowl’s worth of material using only silk touch.
You will need a clock and a crafting table:
First, put your peach into the 3×3 slot and then put the clock into the bottom right slot. Wait for one in-game hour (equivalent to 20 minutes). Then, put your clock back into your inventory and take out the finished Peach Pie!
Note that this method is extremely expensive when using only silk touch. It takes 9 inedible materials in total to make a pie – 3 bowls, 3 potatoes, 3 inedible items – but in return you get 8 bowls back. You are losing one bowl worth of material for every pie you make, so it would be better to simply use shears or an axe when making pies. However, with silk touch this method is faster than using a clock by about six tenths of the time.
If you want to maximize your production rate as much as possible, you should make pies during the day because 8 peaches can be obtained from a fully grown peach tree in about 5 minutes whereas it takes about 13.5 minutes for one pie cycle. That means that you can obtain 18 peaches per pile of 9 items which equals 16.5 pies. (Note that these numbers are only true for fully grown peach trees, not saplings).