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Roughly chop both black olives and pimiento-stuffed green olives. Slice green onions into thin pieces.
Combine butter, mayonnaise, cheese, olives and green onions in a mixing bowl. Stir together until thoroughly combined.
Spread mixture onto French bread that has been sliced lengthwise. Bake at 350ºF for 20 to 25 minutes or until cheese is melted and browning.
Mixture can also be refrigerated (up to two days) and used as a dip. Great with crackers.