Place puff pastry on baking sheet lined with buttered parchment.
Brush top of pastry with butter and score pastry two inches from the edge.
Place pastry in oven and bake until puffed and golden brown, approximately 10 minutes. Remove from oven and press center of the pastry flat up to the point where scored in step 2. This creates an edge for the dessert.
Arrange sliced peaches in the center of the pastry.
Brush with butter and apricot preserves, adding more apricot preserves to fill in areas of the pastry.
Sprinkle with cinnamon sugar spices.
Warm in oven for five minutes.
Remove from oven and serve warm with vanilla ice cream sprinkled with additional cinnamon sugar spices.