Preheat oven to 400°F and grease a 13x9-inch baking dish. Combine crushed pretzels, sugar, cinnamon, and nutmeg in a bowl. Stir in melted butter and mix well.
Press the pretzel mixture into the baking dish to form an even crust. Bake for 8–10 minutes, then cool completely.
In a large bowl, beat cream cheese and sugar until smooth. Fold in whipped topping. Spread over cooled crust and refrigerate for 1 hour.
In a separate bowl, dissolve peach jello in boiling water. Let cool to room temperature.
Top the cream layer with peach slices, then carefully pour cooled gelatin over the peaches. Chill for 2–3 hours until set.
Serve chilled and enjoy!
Notes
Be sure the gelatin cools to room temperature before pouring, or it may melt the cream layer.