Pulse feta cheese, 2 Tbsp. olive oil, lemon juice, pepperoncini salad peppers, garlic, oregano, 1/4 to 1/2 tsp. dried crushed red pepper, and black pepper in a food processor 6 to 8 times or until combined, stopping to scrape down sides. Cover and chill 2 hours before serving. Store in refrigerator up to 3 days. Serve with crostini or pita chips. Garnish with dried crushed red pepper and olive oil, if desired.
Note: To serve as a sauce, prepare as directed, processing mixture 3 to 4 minutes. Serve immediately.