Add frozen peaches, tequila, triple sec, lime juice, honey, and ice to a blender.
Blend until smooth and slushy.
Taste and adjust sweetness with more honey or syrup if desired.
Optional: Rub the rim of each glass with a lime wedge and dip into coarse salt.
Pour the frozen margarita into glasses and garnish with a lime slice or peach wedge.
Serve immediately and enjoy!