In a large skillet cook and stir onion in hot oil over medium heat about 5 minutes or until tender. Add zucchini, water, and cumin to skillet; reduce heat. Simmer, covered, for 3 to 5 minutes or until zucchini is crisp-tender.
Stir roasted pepper strips into zucchini mixture; heat through. Season to taste with salt and pepper. Sprinkle with feta cheese.