Slice the peaches and combine them with the brown sugar and lemon juice. Allow to sit; stirring occasionally.
Smear a bit of the caramel sauce on a serving plate to hold the bottom meringue layer in place. Place meringue layer on top of sauce.
Drizzle meringue with some caramel sauce. Spread 1/3 of whipped cream over caramel.
Arrange a third of both peaches and raspberries on top of the whipped cream.
Repeat two more times. Meringue, caramel, whipped cream and fruit.
Once all three layers are complete drizzle more caramel over entire pavlova. Refrigerate until ready to serve. Best if eaten the same day it's made.