01 - Combine peaches, granulated sugar, lemon juice, and cinnamon in a saucepan. Cook over medium heat, stirring occasionally, for 4–5 minutes until peaches begin to soften and release juices.
02 - Whisk cornstarch and water in a small bowl to form a slurry. Stir into the peach mixture and cook for 1–2 minutes until thickened. Remove from heat and let cool completely.
03 - Beat cream cheese, powdered sugar, and vanilla extract in a large bowl until smooth. In a separate bowl, whip heavy cream to stiff peaks. Gently fold whipped cream into cream cheese mixture until fully combined and fluffy.
04 - Combine graham cracker crumbs with melted butter in a small bowl. Stir until texture resembles wet sand.
05 - Spoon a layer of cheesecake filling into each cone, followed by a spoonful of peach cobbler. Repeat layers if desired. Top with graham cracker crumble and whipped cream, if using.
06 - Serve immediately for maximum crunch, or refrigerate assembled cones for up to 1 hour before serving.