Stir the gravy and picante sauce in a 2-quart saucepan.
Heat the oil in a 10-inch skillet over medium heat. Add the peppers and onions and cook until they're tender-crisp, stirring occasionally. Stir in 2 cups gravy mixture and the turkey. Reduce the heat to low. Cook until the mixture is hot and bubbling.
Spoon 1/3 cup turkey mixture down the center of each tortilla. Fold the tortillas around the filling. Heat the remaining gravy mixture over medium heat until the mixture is hot and bubbling. Serve with the filled tortillas. Garnish with the olives.
Easy Substitution: You can also use cooked steak strips and substitute beef gravy for the turkey gravy.