What type of cocktail is made with vodka, peach schnapps, and cranberry juice?

The cocktail made with vodka, peach schnapps, and cranberry juice is known as Sex on the Beach. This particular drink is recognized for its fruity flavors and is often enjoyed for its refreshing taste. The combination of vodka and peach schnapps provides a smooth and sweet base, while the cranberry juice adds a tartness that balances the overall flavor of the cocktail.

In contrast, the other options listed have distinct ingredients that do not match those in Sex on the Beach. For example, Blue Lagoon typically includes blue curaçao, not peach schnapps, and has a very different taste profile. Tequila Sunrise, on the other hand, is made with tequila, orange juice, and grenadine, lacking both vodka and schnapps. Lastly, a Margarita is based on tequila and served with lime juice, often accompanied by orange liqueur, which again does not align with the ingredients mentioned in the question. Therefore, the unique combination of vodka, peach schnapps, and cranberry juice is what distinctly defines Sex on the Beach.