In a small saucepan, combine the wine, preserves, orange zest, cinnamon and cloves and bring to a boil over high heat. Continue cooking until the preserves are melted and the liquid has thickened, about 6 to 7 minutes. Strain the liquid into a large skillet, transferring the cinnamon stick to the pan.
Add the peaches to the liquid and, over medium-high heat, bring the liquid to a slow boil. Cook until the peaches are just warmed through, about 3 minutes. Turn off the heat and let the peaches cool in the syrup.
Place 2 crepes folded in quarters on each plate (leave the extra 2 crepes for seconds). Spoon the peaches over the crepes and top with vanilla yogurt or softly whipped cream, if desired. Serve immediately.
