Toe & Tow, Toad & Towed

Two barrels of homophonic grace, aimed straight at your face.
Tonight we take on Tow and Towed. It seemed like a copout to use the tow truck two weeks in a row, so I'm letting you have 'em both tonight. BLAM!

Peer & Pier

Peer – (n.) comrade, companion, a person of similar status to another.  (v.) stare intently and/or secretly.
Pier – (n.) walkway extending out over water, supported by posts.

Mince & Mints

-ce – (v.) cut into small pieces.
-ts – (n.) plural form of "mint."

Conscience & Conscious

Not precisely homophones, I still hear these words used in each other's place in conversation and see them switched from time to time in such literary masterpieces as blog posts, status updates, and user comments. I can understand why – they're tricky to spell, similar in meaning, and also similar in pronunciation. But they're not interchangeable.
Conscience [kon-shence] – (n.) your personal set of morals.
Conscious [kon-shuss] – (adj.) awake, aware, not asleep.