In a blender, combine apricot nectar, peaches, crushed ice, and lemon or lime juice. Cover and blend until smooth.
Spoon fruit mixture into tall, chilled glasses; top with carbonated water. If desired, garnish drinks by threading fresh raspberries on wooden skewers; wrap orange peel curls around skewers. Place skewers in drinks. Makes 6 (6-ounce) servings.