Do not drain fruit. Combine peaches and 2-1/2 c sugar and yeast in a 1-gallon glass or crockery jar with a loose fitting lid, stir to mix. Stir daily for 10 days.
On the 10th day, add pineapple and 2-1/2 c sugar. Stir daily for another 10 days. Add cherries, fruit cocktail and remaining sugar and stir daily for 10 more days. Drain fruit, reserve juice for the next batch. Makes enough fruit for 4 cakes. To make more starter, use 1-1/2 cups starter juice instead of yeast with peaches and sugar.