The best way that I can describe getting the cream cheese onto the olive is to envision someone making truffles. Dry the olives with a paper towel, with a knife slice a small portion of room temperature cream cheese and put it into the palm of your hand. Place the large olive on top of the cream cheese and wrap it around the olive. When its covered, shape it into a little football, making sure that the pimento is on one side so you know how to cut it, you want it cut in half not length wise.
After it’s covered, roll it in crushed nuts. Put the cream cheese wrapped and nut covered olives into the refrigerator so the cream cheese firms up. Slice when your ready to serve.