Prepare the fruit layer by draining the peaches and pineapple, making sure to reserve the juice.
Coarsely chop the peaches and set aside with the pineapple. Put the juices in a 2 cup measuring cup and add enough water to bring to the volume to 2 cups. Set aside.
Pour the gelatin into a medium-sized bowl. Set aside. Bring 1 cup of the juice mixture to a boil in a small pot. Pour the juice over the gelatin and stir to dissolve. Stir the remaining juice into the gelatin mixture, mixing well.
Chill the gelatin mixture for 1 1/4 hours until it is the consistency of raw egg whites. Stir in the drained fruits. Pour the mixture into a square 2-quart glass dish. Cover and refrigerate for 1 hour until the gelatin is almost set.
Prepare the cheese layer by pouring the gelatin mix and the boiling water into a blender, blending at low speed with the lid slightly ajar for 1 minutes until the gelatin is completely dissolved. Add the orange juice, blending to mix well. Add the cream cheese and blend until the mixture is smooth.
Pour the cream cheese mixture over the fruit mixture in the dish. Chill for a minimum of 4 hours until firm. Cut into squares to serve.