"We were very disappointed," Gundy said on ESPN's BCS Selection Show on Sunday night when asked about not getting the opportunity to face LSU for the national championship. "We felt like our team had worked very hard. We had a tough loss, but we came back and did everything we could do in our game against Oklahoma (to show the voters that we belonged in the game).
"Obviously, not enough people out there wanted to see the Big 12 champion play against the SEC champion. We were disappointed but it didn't work out that way. We're very, very excited about moving on and playing in a BCS bowl."
The Fiesta Bowl will feature two of the nation's top college quarterbacks in OSU's Brandon Weeden and Stanford's Andrew Luck.
Weeden completed 72.6 percent of his passes for 4,328 yards for 34 touchdowns with 12 interceptions in leading the Cowboys to the Big 12 title this season. Luck was nearly as efficient, completing 70 percent of his passes for 3,170 yards for 35 touchdowns with nine interceptions.
"Our team is very excited about playing in the Fiesta Bowl and playing against Stanford," Gundy said. "We certainly wanted to play in that (championship) game and play for a national championship, but to be in a BCS bowl and to play Standford, we're excited."