Start by draining and rinsing your beans thoroughly in a fine-mesh strainer until the water runs clear. This removes excess sodium and prevents your cowboy caviar from becoming too salty. Dice your bell peppers into uniform pieces about the size of the beans so every bite has perfect balance. The key is keeping everything roughly the same size for the most satisfying texture.

In your largest mixing bowl, combine the black beans, black-eyed peas, corn, diced bell peppers, red onion, tomatoes, and minced jalapeño. Gently fold everything together with a large spoon, being careful not to mash the beans. The mixture should look like a colorful mosaic of Texas flavors.

In a separate small bowl, whisk together olive oil, fresh lime juice, red wine vinegar, cumin, chili powder, and garlic powder until well combined. The lime juice brightens all the flavors while the cumin and chili powder add that authentic Southwestern warmth. Taste and adjust seasonings as needed.

Pour the dressing over the bean mixture and add the fresh cilantro. Gently stir until everything is evenly coated and glistening. Season generously with salt and freshly ground black pepper. Cover and refrigerate for at least 30 minutes before serving to let those flavors meld together beautifully.