Heat the water to 75–80°C (167–176°F), do not boil. Add the white tea and steep for 3–4 minutes. Remove the tea bags or strain the leaves and let the tea cool to lukewarm.
Add the dried hibiscus flowers to the warm tea. Let infuse for 6–8 minutes only, just until a deep ruby color and clean tart aroma develop. Strain out the hibiscus promptly to avoid harsh acidity.
In a small saucepan, combine the peach slices, sugar, and water. Bring to a gentle simmer over medium-low heat and cook for 8–10 minutes, just until the peaches soften and release aroma. Do not reduce aggressively or let it turn jammy. Remove from heat.
Strain the syrup through a fine-mesh sieve into a bowl or measuring jug. Do not press the solids. Discard the peaches and let the syrup cool completely.
Stir 120–160 ml of the cooled peach syrup into the hibiscus–white tea base. Taste and adjust carefully — this drink should be softly fruity, not sweet.
Refrigerate for 1–2 hours until fully cold and integrated.
Fill glasses with ice, pour over the chilled hibiscus peach white iced tea, and garnish with peach slices and a dried hibiscus flower if desired.