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Peel the onion & cut it into four quarters. Toss it into the pressure cooker.
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Cut your pork shoulder into appx 4" pieces and remove any large pieces of fat. (It's cool to keep some of the fat there, though. That's what breaks down during the cooking process to help make your pulled pork extra tender & delicious!) Put your pork shoulder pieces into the pressure cooker.
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Add liquid smoke, water, onion powder, garlic powder and 1 cup barbecue sauce into the pressure cooker.
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Lock the lid on the pressure cooker and cook on high pressure for 50 minutes. Release the steam, and check on the pork. If it shreds easily, it's done! If it's not shredding easily, put the lid back on and cook for an additional 5-10 minutes at a time until it's all good to go. (My pressure cooker doesn't have a high pressure setting so it took a little longer - about 70 minutes total - to become good and shreddable.)
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Remove the pork and shred it with two forks. Serve the shredded pork on buns and top with additional barbecue sauce if that's your thing.