Add the ingredients to a 1-1/2- or 2-pound bread machine according to the manufacturer's directions. Select the basic white bread cycle and desired color setting.
In a food processor bowl combine roasted red sweet peppers, ripe olives, kalamata olives, green olives, olive oil, and thyme. Cover and process with several on-off turns until coarsely chopped. (Or, coarsely chop sweet peppers and olives by hand. Stir in oil and thyme.)