"I wish my boys good luck", McFadden tweeted after being released.
The Cowboys on Sunday waived the veteran running back "based on mutual discussions" in recent days, NFL Insider Ian Rapoport reported, citing unidentified league sources. The Cowboys may not even be dressing him considering the way things have gone for Darren McFadden.
For the season, McFadden only has one carry for -2 yards, so he should be pretty fresh for whatever team he ends up with.
Some expected McFadden to take over as the lead back after Elliott's suspension, but the veteran has received virtually no playing time this season. He was inactive for losses to the Philadelphia Eagles and Los Angeles Chargers as the Cowboys opted to go with just two tailbacks, Alfred Morris and Rod Smith.
The other roster spot was used to sign RB Trey Williams from the practice squad.
The 30-year-old McFadden finished fourth in the National Football League in rushing with the Cowboys in 2015 with 1,089 yards - his first year in Dallas after playing seven years for the Oakland Raiders. He saw limited action in three games with the 49ers, tallying six tackles. Jones was a first-round pick by Green Bay in 2013. He has also had failed attempts to catch on in Detroit and San Francisco before now landing in Dallas.
Aus flights to Bali grounded as Mt Agung erupts again
People living within 7.5km (4.5 miles) of the mountain have been told to evacuate, senior volcanologist Gede Suantika said. The Darwin Volcanic Ash Advisory Centre said that the volcanic ash cloud was up to 25,000ft and moving south.