Add enough water to orange juice to make 2 cups of juice. Heat liquids and thicken with cornstarch. Cook until clear. Cool.
Drain 1 (11 oz.) can mandarin oranges and 1 (2 1/2 size) can sliced peaches. Add fruit to above. Serve on angel food cake. Top with whipped cream or Cool Whip. Easy and pretty. Oh yes, it is so good, too!