Turn Instant Pot® to Normal Sauté. Add oil and let heat for 1–2 minutes. Add the onion and bell pepper and cook until they start to soften, 2–3 minutes. Stir in salt and cumin and cook for 1 minute. Press Cancel. Add the quinoa, salsa, and water; stir. Place lid on pot and lock into place to seal. Press the Rice button. Let the pressure release naturally, to make sure the quinoa completely absorbs the liquid.
Fluff the quinoa with a fork and stir in the beans. Serve warm, with desired toppings.