Add the oats, milk, peaches, preserves, baking soda, salt and cinnamon to a blender. Blend until combined, allowing some texture in the mixture.
Grease a mug with the butter, pour the batter into the mug and microwave until you have a sponge cake consistency in the mug, 1 1/2 to 2 minutes. Let sit for 2 minutes before inserting a skewer into the mug to check that the mixture is cooked. If it is cooked, the skewer should come out clean. If not, continue to microwave in 30-second intervals until done.
Top with the yogurt and a drizzle of honey.
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