Easy Pete used to be a prospector looking for working tech, chems and guns to sell. Pete mentions that he once hit a "...real good claim out east by the river." He eventually got tired of the prospector life and decided to settle in Goodsprings, where he now watches over a herd of bighorners. He also occupies a house in Goodsprings where the Courier can take anything without negative Karma, as well as having the option to sleep on the bed since the bed isn't actually classified as being owned by Easy Pete.
Easy Pete is one of the only non-player characters outside Caesar's Legion, besides Marcus and Follows-Chalk, that pronounces Caesar with the traditional Latin pronunciation /ˈkaisar/, rather than /ˈsiːzər/.
Easy Pete claims he has a hidden dynamite stash somewhere, but it is impossible to find any 'stash' in the surrounding area.