I found this recipe online, I think I might give it a shot for the Christmas Eve Party that we are attending...
Baked Cheese Olives
2 cups shredded sharp Cheddar,
1 1/4 cups flour,
1 stick margarine or butter (melted),
about 36 pimiento-stuffed green olives (drain and pat dry with a paper towel; amt. of olives used will vary depending on how much dough you wrap around each). I don't use any cayenne.
Mix the cheese and flour, then mix in the margarine, working the dough with your hands if it seems dry. Mold approx. 1 tsp. dough around each olive;
refrigerate wrapped olives at least 1 hour before baking. (or overnight.)
Bake @ 400 degrees for 20 minutes or until golden.