Currently, the following seven BIG 12 teams are eligible for bowl games:
BYU (9-0)
Colorado (7-2)
Iowa State (7-2)
Kansas State (702)
Arizona State (7-2)
Texas Tech (6-4)
TCU (6-4)

By the end of the season five more teams from the BIG 12 can find their way too:
Cincinnati (5-4) - Beat Iowa State, Kansas OR TCU (33% chance IMO)
West Virginia (5-4) - Beat Baylor, UCF OR Texas Tech (33% chance IMO)
Baylor - (5-4) Beat West Virginia, Houston or Kansas (33% chance IMO)
UCF (4-6) - Beat West Virginia & Utah (50% chance IMO)
Houston (4-5) - Beat Arizona & Baylor (50% chance IMO)

Then there is Utah (4-5) - Beat two of the following teams, Colorado, Iowa State & UCF (3% of Utah winning two IMO)