Bring a large pot of salted water to a boil. Add tortellini and cook according to package instructions, usually around 3-5 minutes, until tender. Drain and rinse under cold water.

In a mixing bowl, combine mini pepperoni, black olives, mozzarella, cherry tomatoes, and roasted red peppers. Toss gently.

Add the cooled tortellini to the salad mixture and stir carefully until evenly distributed.

Whisk together the roasted red pepper oil, extra virgin olive oil, balsamic vinegar, red wine vinegar, and parmesan in a separate bowl. Adjust seasoning with salt and pepper.

Drizzle the dressing over the salad and gently fold until well coated.

Cover and refrigerate for at least one hour, garnishing with fresh basil before serving.