Peach Intangible Head Bounce Ledge Stall

This gfycat demonstrates Peach's only intangible ledge stall, the head bounce stall (discovered by CAUP). Note that this is only possible on Battlefield (in terms of legal stages).

She first drops from the ledge, then doublejumps with a slight forward stick, then immediately starts holding back to drift back to the ledge. She bonks her head on the doublejump which allows her to start moving downward, and her ledge snap box is high enough to be above the ledge.

You can perform this however you like, but I recommend the method shown in the gfy. C-stick back to drop from the ledge, Diagonal Up-Forward, to doublejump slight forwsard, then circling the stick to back to drift to the ledge.

Peach is fully intangible during this if performed correctly. There are other characters who can perform this, but their inputs are in the TAS-realm.

More info

Full size gfy