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Preheat the oven to 375°F.
Cook the diced bacon and diced onion together in a large skillet over medium heat for 18-20 minutes, stirring occasionally, until the bacon is crisp and the onion is deeply golden.
Stir in the diced peach, oregano, and black pepper. Cook 2-3 minutes more, until the peach softens slightly.
Remove from heat and let cool for 10 minutes.
Spread the softened cream cheese evenly in an 6-inch baking dish.
Layer the shredded cheddar, then the Parmesan, over the cream cheese.
Spoon the warm onion, bacon, and peach mixture evenly over the cheese layers.
Bake for 18-20 minutes, until melted and bubbling at the edges. Broil 1 minute for color, if desired.
Let rest 5 minutes.
While the dip bakes, toss the diced peach with basil, olive oil, salt, and pepper for the topping.
Spoon the fresh topping over the warm dip and garnish with basil leaves.
Serve immediately with crostini, baguette, or crackers.