Add about three-quarters of the peach pop to a small saucepot along with the peach preserves, vinegar, soy, ginger and garlic. Simmer until everything dissolves and it thickens slightly, 5 to 10 minutes. (If the sauce gets too thick, thin it out with a little more peach pop.) Add the chopped peppers and let cool. Reserve half the sauce for glazing and dunking. Add the ribs to a large resealable bag. Add the other half of the peach sauce and marinate the ribs, refrigerated, at least 3 hours or up to overnight.
Heat a smoker or grill with a smoker box with a 2-stage fire (one side hot, one side low) to 275 degrees F.
Place the ribs directly on the cooler side of the grill and add wood chips to the smoker or smoker box. Cook for 1 hour. Baste the ribs with the peach sauce. Continue to cook, basting once an hour, until very tender, another 2 hours. If you prefer your ribs extra crispy, increase the heat to medium-high and baste with more peach sauce, then continue to grill until the ribs are caramelized and charred, 4 to 5 minutes.