Stir together first 5 ingredients.
Cut bread loaf in half horizontally; remove center of bread, and reserve for other uses, leaving a 1/2-inch-thick shell.
Spoon half of olive mixture into bread shell. Top with turkey, ham, cheese, and remaining olive mixture. Cover with bread top. Cut into wedges. Garnish, if desired; serve immediately.
*1/2 cup chopped pimiento-stuffed olives may be substituted.