Pour sugar and vinegar into a large saucepan, and stir to dissolve sugar. Add cinnamon sticks, cloves, and star anise; and bring to a boil for about 5 minutes. Remove spices and set aside.

Divide peaches between 2 or 3 sterilized 1-pint canning jars. Fill each jar (leaving ½ inch of headspace) with hot pickling liquid, dividing spices and tarragon sprigs evenly among the jars. Cover jars with new lids and bands.

Let cool to room temperature. Refrigerate for at least 1 day for flavors to develop; keep for up to 1 month refrigerated.

Or, process still-hot jars in a water bath canner according to directions found at Freshpreserving.com.