One day an old woman was washing her clothes by a stream and a giant peach floats down the water. When she took it home to show her husband and to share the peach, a boy popped out, claiming to be their son sent from the gods. Because he came out of a peach, the couple decided to name him Momotarō (桃太郎).
When Momotarō grew up he decided to go on an adventure, and he befriends a monkey, a rooster, and a bear. Together they fought oni (鬼; ghosts) on an island and claimed their treasures, which Momotarō then took home to his parents. They lived happily ever after.
Informant had studied abroad in Japan and considers herself more Japanese than Chinese or American. She learned such folklore from her Japanese friends.