Cream butter; add chopped olives, eggs, mustard, salt, and paprika, stirring until smooth.
Trim crust from bread. Spread olive mixture on two slices of whole wheat bread and two slices of white bread. Stack slices alternately beginning with wheat bread. Top with a slice of wheat bread. Cut sandwich in half lengthwise and in 5 slices crosswise. Repeat procedure with remaining bread slices and olive-mustard mixture. Garnish sandwiches with olive slices.