PLACE olives in food processor container; cover. Process until finely chopped. Place in large bowl. Add 2 cups of the dressing (or 1/4 cup for trial recipe), cheese and red peppers; mix lightly. Cover. Refrigerate until ready to serve.
BRUSH both sides of bread slices with remaining dressing. Bake at 350°F for 5 minutes on each side or until lightly browned on both sides.
TOP toasted bread slices with olive mixture just before serving.