In a saucepan, combine 1 cup of sugar, corn syrup, and ½ cup of water. Stir until the sugar dissolves.
Sprinkle gelatin over ½ cup of water and let it bloom for 5 minutes.
Heat the sugar mixture over medium heat until it reaches 240°F on a candy thermometer.
Remove from heat and stir in the gelatin, citric acid, peach extract, and food colors.
Pour mixture into greased molds and let it set for 4 hours.
After setting, remove candies from molds and coat them in the remaining sugar.
