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Preheat the grill to medium-high heat. Lightly brush with vegetable oil.
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Lay the zucchini and yellow squash strips on a baking sheet in a single layer. Brush on both sides with 1 tablespoon of the olive oil.
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Place the red bell pepper and onion in a medium bowl. Gently toss with the remaining 2 teaspoons of olive oil.
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Grill the vegetable until just tender, 4 to 5 minutes per side for the zucchini and yellow squash, 3 minutes per side for the onion and 2 minutes per side for the red bell pepper.
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Cut the zucchini, yellow squash and red pepper into ½-inch chunks. Cut off the root ends of the onions and cut the layers in half.
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Place all of the vegetables in a large bowl and toss with 3 tablespoons of the peanut sauce.
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Wrap the corn tortillas in a paper towel and microwave on HIGH for 30 seconds to soften the tortillas.
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Using 1 tortilla per taco (use an extra if you're worried about them falling apart), divide the vegetables evenly between the tacos and top each with 2 teaspoons of peanut sauce, 2 slices of avocado and a sprinkle of cilantro.