Fill a cocktail mixing glass halfway with ice. Pour in the vodka, peach schnapps, orange juice, and cranberry juice. Stir with a bar spoon until combined.
Fill a hurricane glass with ice. Strain the cocktail into the glass.
Garnish with an orange slice and cherries. Serve immediately.
Notes
Cocktail for a Crowd: Pour 1 1/2 cups vodka, 1 cup peach schnapps, 1 1/2 cups orange juice, and 1 1/2 cups cranberry juice into a pitcher. Stir together. Chill in the fridge until ready to serve. Pour over ice for serving.