Remove the trunk wrap so that you see what it is. Perhaps just a small new peach branch. In any event, if growing from the trunk, snap it off.

Yes, that's coming from the bottom, from the main trunk of the tree. Why is this grown exactly? Is it helping the tree in any way?

Omni, if this branch is sprouting from below the graft, then it is the rootstock trying to leaf out. Not helping your tree at all and snap it off. You don't want branches sprouting from the rootstock, or suckers coming up from the ground from the rootstock. Even if it's from the graft (above the graft line), you may not want a branch that low, so again, just take your thumb and rub it off. That's called "thumb pruning".

Patty S.

It's not unusual for young trees to sprout out at random places on the trunk. Just remove them.

I like my peach trees to branch low. As long as its above the graft line its not a problem. Its up to you if you want to remove it. Some people like the branches/scaffolds higher up on the tree. I prefer mine low because its easier to pick fruit and makes for an easier vase type open center pruning. It really depends on what your going for.

Thanks a lot everyone!
You are all an invaluable tool that a beginner like me would not be able to live without! I will go and prune it off.