The Super Mario Bros Movie left Peach's origin story a mystery, but Cranky Kong and Donkey Kong lore could provide an answer in The Super Mario Bros Movie 2. The 2023 hit film put a unique spin on Mario's story, creating a clearer explanation for how he and Luigi came to live in the Mushroom Kingdom (despite not being Toads). Along that same line, The Super Mario Bros Movie revealed that Princess Peach had come from a different world as a baby, but she had no idea which of the many had initially been her home. This approach implies that a Mario Movie sequel will provide the answers, and a theory about Cranky Kong could explain everything.
https://screenrant.com/super-mario-bros-2-cranky-kong-peach-theory/