If have a food mill or want to keep the skins on just core/pit the peaches and apples. Otherwise peel them first before removing the core/pit.
Quarter the peaches and apples and add to the Instant Pot
Add enough water to cover the bottom of the pot about ⅓ to ½ of cup.
Set to high pressure for 5 minutes. Seal the pot.
Allow the pot to naturally release before opening.
If using a food mill, run through the food mill now, over top a bowl.
Once cooled enough to taste, check for sweetness. Add honey or sugar if desired.
If sauce is too thin, put back in the Instant Pot and hit the saute bottom. Don't walk awake. Stir the sauce regularly until the desired consistency.
Notes
Slow Cooker InstructionsAdd all the peaches and apples to a slow cooker. Add ⅓ cup of water. Set to high for at least 2 hours. Run through food mill if you didn't peel the fruit. If too thin, then place it back in the slow cooker with the lid off and continue cooking until desire consistency. Stove Top InstructionsAdd all the ingredients to a large pot along with ½ cup of water. Bring to a boil. Reduce to simmer. Keep the lid off. Stir frequently so not to burn. If too dry, add more water. Run through food mill when you can easily smash the fruit with a large spoon, about 20 minutes.