Trim any excess fat from the skirt steak and cut into 3-inch chunks.
In a large bowl combine the steak chunks with 1½ tbsp BBQ rub and 2 tbsp BBQ sauce; toss to coat and set aside while you prep the vegetables.
Cut the red, orange, and yellow bell peppers and the yellow and red onions into 3-inch chunks to match the steak pieces.
Place the cut vegetables in a bowl and toss with 1 tbsp olive oil, ½ tsp salt, ¼ tsp garlic powder, and ¼ tsp black pepper.
Thread steak and vegetables onto skewers, alternating pieces for even cooking.
Refrigerate the assembled kabobs for at least 30 minutes, or up to overnight, to let flavors meld.
Preheat your Traeger or other pellet grill to 250°F (low smoke). Place the kabobs on the grill grates and smoke for about 45–55 minutes, until the steak reaches your desired internal temperature.
For tender, juicy kabobs remove when the steak reaches about 140°F for medium-rare to medium; adjust to 130°F for a redder center if preferred.
Sprinkle chopped fresh cilantro over the kabobs and serve immediately over rice, with salad, or alongside grilled flatbread.