Preheat the oven to 325°F (160°C).

Roughly chop the black olives and Spanish Queen pimento-stuffed olives, and slice the green onions thinly.

In a mixing bowl, combine softened butter, mayonnaise, and shredded Monterey Jack cheese. Mix in chopped olives and sliced green onions until well incorporated.

Slice the French bread lengthwise and spread the olive cheese mixture thickly over both halves.

Place the bread halves on a baking sheet and bake for about 25-30 minutes, until the cheese is melted and bubbly.

Remove from the oven, let cool slightly, then slice and serve warm.