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Personally, I'm not keen on getting sand in my undies, but this is a very tasty drink nonetheless.

There are many different versions of this drink - it seems that the name covers just about any fruity Vodka cocktail:

Version #1: Vodka, Peach Schnapps, Cranberry Juice, Grapefruit Juice;
Version #2: Vodka, Peach Schnapps, Amaretto, Orange Juice, Cranberry Juice;
Version #3: Melon Liqueur, Raspberry Liqueur, Vodka, Pineapple Juice;
Version #4: Peach Schnapps, Triple Sec, Vodka;
Version #5: Vodka, Peach Brandy, Orange Juice, Cranberry Juice.

BarDrinks even suggest a non-alcoholic version:

"Safe Sex On The Beach" - 1oz Peach Nectar, 3oz Pineapple Juice, 3oz Orange Juice, Dash of Grenadine.

stolichnaya, my preferred vodka
There's even a new peach-flavoured variety that would go well in this recipe.