This article reports on a study of academics who observed their colleagues' teaching at a large research-intensive university in Australia. These academics had completed peer observation as part of a foundations programme designed for those new to teaching or new to the university. Survey responses and interview transcripts form the basis of an investigation of academics' experience of observation, and whether the experience led academics to change their teaching practice. The results provide evidence for reconsidering how academics learn about teaching from observing peers. There is support for the premise that academics learn from observing teaching, an approach distinct from those more common in higher education, such as being observed, or observing with the aim of providing feedback for colleagues. Recommendations for those interested in developing the teaching of academics through peer observation are discussed.