Using kitchen shears or a serrated knife, trim chicken and cut into strips. Toss with taco seasoning. Add to bowl of pressure cooker.
Add remaining ingredients to the cooker, bell pepper strips and salsa.
Place lid on top and close. Move sealing valve to closed. Select Manual Pressure for four minutes. Allow to natural release for 10 minutes, then release pressure and serve.
Sprinkle reduced fat cheese, cilantro or plain Greek yogurt if desired.