Pour peach juice into a champagne flute. Slowly pour sparkling wine over peach juice; let sit until liquids have blended, about 1 minute. Pour raspberry juice over champagne mixture.
Purists do not use Champagne to make this cocktail; it can be too flavorful and hide the subtle peach flavor. If a non-alcoholic cocktail is desired, use sparkling water in place of the sparkling wine..