Peters was brought in to meet with the Cowboys on Friday, after they lost left tackle Tyron Smith to a long-term injury, and he is now set to provide depth for the offensive line.
The signing also gives the Cowboys coaching staff more flexibility in how they set up their O-line. Rookie Tyler Smith could now be moved back to left guard, where he was initially set to feature, giving Peters the start at tackle.
The 19-year NFL veteran started 15 games for the Chicago Bears last season. He signed for them in August 2020, after spending 10 years at the Philadelphia Eagles.
An extended wait on the sidelines during free agency didn't bother Peters much. He was happy to wait for the right opportunity.
"I'm looking for an up-and-coming offensive line [on a] good team or a playoff team," Peters told SiriusXM NFL Radio back in July.
"Either way is good for me because I can teach or I can sit back and listen and learn from other veterans of the game, too."
Dallas will be hoping Peters can do some teaching after all, as he will either provide depth for or line up next to their promising 21-year-old rookie.