How to Make It
Stir together orange marmalade, peach preserves, crushed red pepper, salt, and white wine vinegar in a small saucepan; bring to a boil over medium, stirring often. Cook, stirring constantly, until mixture thickens, about 4 minutes. Scrape mixture onto a lightly greased plate; cool completely, about 30 minutes.
Meanwhile, place 1⁄2 cup salted butter, softened, in a bowl; beat with an electric mixer on medium speed until light and fluffy, 3 to 4 minutes. Stir in marmalade mixture until well combined. Scrape mixture into a serving bowl. Cover and chill until ready to serve.