There are two remixes of the song: the first contains guest appearances from American rappers and singers Ludacris, Usher, and Snoop Dogg, while the second features Nigerian musicians Alpha P, Omah Lay, and Masterkraft.

Shndo and Harv presented the song to Bieber, who loved it and later re-recorded the chorus and wrote a verse before sending it back to the producers to work on it some more.

[15] The track opens with a muted, "battered upright" piano part that becomes the song's backbone before introducing "leisurely" licks produced by an electric guitar.

[10] The chorus, which is "a sweet ode to different regions" and repeated seven times, is sung in a "call-and-response" style that intercuts each artist's verse, where Bieber professes to "get[ting] his peaches in Georgia and his weed from California".

[23] Bieber explained his reasoning for starting the line, telling Vogue, "Weed was something that I felt people tried to make me feel bad for enjoying."

Billboard critic Jason Lipshutz ranked it as the second-best song on Justice, writing that "'Peaches' flips the script with vivacious R&B energy" and "levitat[es] off the ground with Giveon and Daniel Caesar along for the top-down ride".

[27] Jon Caramanica wrote for The New York Times that the track "finds Bieber at his most vocally flexible" and regarded it as the most successful collaboration on Justice.

[16][28] Sumiko Wilson of Complex Canada stated that the song "embodies the R&B sound" that Bieber "thought he was tapping into" on his previous album Changes.

[9] Alex Zidel of HotNewHipHop felt that the track "will be a lasting success well into the summer season", writing that its chorus "will leave you humming the melody for days on end".

[29] Gabriella Ferlita of Gigwise called it "effortlessly sumptuous" and "a deliciously fictitious musical affair between the sounds of Anderson Paak and Jack Johnson".

[42] Due to the song reaching the summit, Bieber tied Canadian rapper and singer Drake as the only male artists with four number-one entrances on the chart.

With the song's parent album, Justice, entering the Billboard 200 at the top position in the same week, Bieber became the third artist to debut at number one on both charts simultaneously, following BTS and Taylor Swift in 2020, as well as the first male soloist to do so.

[53] Bieber performed a solo stripped-down version of "Peaches" at NPR's Tiny Desk Concert on March 17, 2021, two days before the song's official release.

[57] On April 3, 2022, Bieber performed a stripped back version of "Peaches" on his piano at the 64th Annual Grammy Awards, where the song was up for four nominations.

[65] While Bieber and Giveon sit in the car and take turns driving, Caesar appears relaxing on the hood or lying on the roof of the moving vehicle multiple times throughout the video.

[61][65][66] He wears a series of street-style outfits, including a puffer jacket, plaid shirt, baggy jeans, and knitted cap, before flaunting a peach-colored suit inside a dome structure with soft lighting and mirrors.

[200][201] Snoop Dogg teased a part of his verse a day before release through a Twitter exchange, questioning Bieber "where [he]'s been" before the latter asked the rest of his collaborators if they were "around tonight".

"[210][211][212] Rolling Stone's Jon Blistein felt that the guest artists were "a perfect fit" for the song's "slick and breezy beat".

[210] Mitch Findlay of HotNewHipHop believed that Ludacris and Usher brought new energy into the remix, while Snoop Dogg's charisma kept him engaging throughout his rapping.

[215] Tom Breihan of Stereogum found the remix to be musically uninteresting, but commented that "there's something fun about seeing [the featured artists] showing up on this song together".

[216] Clover Hope wrote for Pitchfork that "[a] smooth-as-ever Usher salvages the remix from transient houseguests Ludacris and Snoop Dogg" as he "add[s] lived-in harmonies to an already suave song".