FOR POACHED PEACH GARNISH: Place all the ingredients in a large pot and stir to dissolve the sugar, bring to a boil, reduce and simmer until peaches are slightly soft about 10 minutes depending on the ripeness of the peaches. Remove from the poaching liquid and cool. Slice peaches and decorate plate. FOR WHIPPED CREAM: In a well chilled bowl with chilled beaters, beat the crream with the vanilla and sugar until firm. Place a blob on top of a piece of cake and garnish. Sugar can be omitted depending on taste. FOR MERINGUE: Beat egg whites with one third cup sugar and vanilla until stiff. (it helps to have warmed the bowl and beaters with warm water first then dry before use. This will ensure a high whip) By hand working quickly, blend in the powdered sugar thoroughly. Take a plastic sandwich or pastry tube and pipe out strips of meringue onto a sheet pan. Place in a 250 degree oven for about 1 hour or until dry. This can be done a day in advance and stored in an airtight container. (continued in Part 2)