In deep fat fryer or heavy kettle, heat salad oil (3-4 inches) to 375 degrees. Prepare pastry for two-crusted pie as directed on package except after rolling pastry, cut into sixteen 4 1/2 inch rounds. Stir together peach slices, candies, granulated sugar and cornstarch. Place about 1 Tbs. fruit mixture on half of each round. Moisten edge of pastry; fold over fruit and press edges with fork to seal. Fry in hot oil, turning once, until golden brown, about 5 minutes. Drain pies on paper towels. Sprinkle with confectioners' sugar Serve hot or cool.