In a large bowl, combine the heavy cream and sugar and whip with a hand mixer until medium peaks form. Cover with plastic and place in the refrigerator.
In another large bowl, combine the cream cheese, peach preserves and vanilla extract and beat with a hand mixer until light and fluffy. Fold in the whipped cream.
Divide the mixture among 4 dessert glasses and refrigerate until ready to serve. When ready to serve, garnish each with a few slices of peach and a ladyfinger cookie.
Recipe copyright Sandra Lee, 2011