In a jar or salad dressing container, combine the vinegar and oil. Screw on the lid and shake well. Refrigerate until chilled. Remove the pits from the peaches and cut into wedges or slices. Cut the mozzarella balls into wedges and arrange the slices of peaches and mozzarella on a platter. Scatter the basil on top and drizzle the dressing over the peaches, mozzarella and basil. Sprinkle with salt and pepper. Serve immediately and enjoy!