In a medium saucepan, bring 2 cups of water to a boil.
Once boiling, remove from heat and add the dried hibiscus flowers. Let steep for 15 minutes.
After steeping, strain the hibiscus tea into a pitcher, discarding the flowers.
While the tea is still warm, stir in the sugar until fully dissolved.
Add the diced peaches, vanilla extract, and cinnamon (if using) to the pitcher.
Allow the mixture to cool to room temperature, then refrigerate for at least 1 hour to chill.
To serve, fill glasses with ice cubes and pour the chilled tea over the ice. Garnish with fresh mint leaves if desired.