1. Soak peach gum and snow fungus for at least 5 hours, or overnight, until they are softened and plumped up in size. Drain and trim away impurities. Cut snow fungus into smaller florets.
2. Boil a large pot of water over high heat. Add in all ingredients, except for papaya and rock sugar. Bring it to a boil again. Reduce heat to low and simmer for 45 min.
3. Add papaya and rock sugar and continue to simmer for another 15 min. Turn off heat. Serve hot or chilled.
KEEP OUT OF REACH OF CHILDREN Do not use if you are pregnant or lactating. Store in a cool, dry place.