Peer observation involves instructors attending each other’s classes for the primary purposes of reflection and growth. Among faculty, observation is often limited to the context of tenure and promotion. The experience of observation is even more rare between graduate instructors, who very often do not engage with their peers in a community-focused manner. This article presents a three-phase study that gathers both quantitative and qualitative data on peer observation in the field of music theory. We collected data from both faculty and graduate instructors, and a peer observation system for graduate instructors was implemented concurrently. The article concludes with results and suggestions for development and implementation of a peer observation program at your institution, highlighting the reciprocal benefits of the observational experience for music theory instructors.