1) Stir the gelatin in hot water to dissolve.
2) Drain and reserve the syrups from the pineapple and peaches.
3) Mix the syrups together and level to 3 cups with cold water.
4) Stir into the gelatin and refrigerate until slightly firm.
5) In a 2 1/2-quart ring mold, place the cherries and peach halves in the bottom.
6) Halve and place the pineapple slices in the gelatin, around the sides of mold in a "scalloped" fashion.
7) Arrange the cherries in the middle of half rings.
8) Pour over the gelatin mixture and refrigerate until set.
9) Unmold in a platter and serve immediately.