Instructions

  1. Drain the olives, reserving the liquid. Place the olives in a small bowl, and set aside.
  2. Place the olive liquid in a small saucepan. Add the chiles and the remaining ingredients; stir well. Bring to a boil; reduce heat, and simmer, uncovered for 5 minutes. Pour the hot vinegar mixture over the reserved olives. Let cool.
  3. Cover and chill thoroughly. Drain before serving.