Can I drink Saw Palmetto as a tea?

With my peppermint tea?

You can, but the fatty acids in the SP are not water soluble, they will stay stuck to the residue in the tea bag and you won't get the benefits that you would by taking the SP as a supplement. Your stomach acids can digest the fats when you swallow the supplement.

Do I need to take Saw Palmetto AND Peppermint tea? Or can I take one or the other?

Some people do both but others just do one. I personally think the SP is more effective than the PT.