By default, it looks like the Patriots are the favorites to sign former Saints defensive end Will Smith. Smith is 6'3, 280 lbs, but will be 33 at the start of the season and is coming off a torn ACL that forced him out of the 2013 season.
He's the clear favorite to take on Andre Carter's role as third defensive end, although it's clearly not the answer if you're looking for a dominant pass rusher.
Smith has nine seasons in the league (ignoring last season) and has 5.5 or more sacks in eight of them. However, that seems to be more opportunistic flash than anything as Smith rated out as the 2nd worst defensive end in football (per Pro Football Focus), and scored consistently negative grades
Personally, I believe Smith is too far gone to be anything more than a camp body and a veteran. There will likely be better options on the market a) in the draft, and b) once roster cuts start happening.
DJ Jazzy Jeff was unable to be reached for comment.