I learned that if you have an explosion of peonies now, and want to have peonies later in the season, you can. When the bud feels likes a marshmallow, just clip the buds about fourteen inches down from the bud. Wrap them well in plastic, leaving the ends of the stems free to allow for air flow. Put them in the fridge. In a few weeks, take them out again, put them in water and enjoy their heady scent all over again.