Last year I grafted this peach and it didn’t quite go as expected. I usually do well with peach bark grafts, but not so much this time. 2 of 4 grafts took (Risingstar and Harrow Diamond) but didn’t grow as much as I expected for the size of the existing tree. However the Risingstar graft grew enough to break itself, hence the funky screw and wrap job. As of now both grafts are still alive, but I wonder about their long term stability.
I’m debating whether to leave it and see what happens or just call it and plant a new bareroot tree this Spring.
You could take scions from what you have. Then later cut it lower and regraft it again. Or just let it go and see what happens. In time it may heal over fine. I wouldn’t waste the established roots though.
I second @Robert, take scions from the grafts that took and regraft lower. I also could be wrong but I’m not sure I’d want 3+ scaffolds at the same point due to future breakage. I’d want them staggered a bit, maybe retry with some chip bud grafts staggered slightly? Someone else with experience in this could give better advice
It is usually done on trees that are girdled, but I’ve heard to do it across large stumps that have been grafted on.
Here’s some pictures of it done on girdled trees.