first, go strait ahead, about 2 or 3 steps until you can't go further. now go to your monster's right. You will come to a dead tree, but there is a loop around it if you don't feel up to knocking it over. now go up until you can't go any further.
NOTE: if you reach a 4 way intersection you have gone THE WRONG WAY
now go to you're monster's left for 1 or 2 steps. keep going up, monster's left again about 1 or 2 steps. You should be at a waterfall sort of thing. go down, over, down, over the opposite way, down all the way. now you will be at a fork in the path, and i believe there is a lake nearby. at this point, if you can take about 2 steps and get to a building, you've gone the wrong way. do not take this path, go over until a the pat forks again. Go up, the path will fork agian. one of the paths will have a large pumpkin blocking the way. that is the WRONG path. go down the other path and you will arrive at the tower. the gold peach is not always there, though.

While there may be a shorter route, it does have obstacles, while this one (if done correctly) is obstacle free, which is why i find it to be the best route.