In practice, we call this espalier shape simply “Double U”; it consists of two U shapes.
The Double U shape is a variation on the Single U shape. This is the simplest Gaucher Palmet.
Some choose to keep the horizontal parts ‘bare’ because they naturally bear less fruit and it takes relatively more pruning to grow fruit on them.
Opinion
Difficult to grow, but easy to maintain afterwards. Highly recommended espalier, provided you leave the growing to a specialized tree grower. Branches are easy to keep in balance (if the tree is grown well).
Very suitable for peach, but also for apricot, pear and apple.