Princess Peach is a stand-in for wisdom. The coins on the ground represent the preciousness of wisdom. The 1up mushroom represents how life is given to those who find wisdom. The villains behind her represent potential opposition, but Princess Peach can discern through deception and distraction through the discerning eyes of wisdom. 

Blessed are those who find wisdom,
    those who gain understanding,
for she is more profitable than silver
    and yields better returns than gold.
 She is more precious than rubies;
    nothing you desire can compare with her.
Long life is in her right hand;
    in her left hand are riches and honor.
 Her ways are pleasant ways,
    and all her paths are peace.
She is a tree of life to those who take hold of her;
    those who hold her fast will be blessed. Proverbs 3:13-18