In 12-inch skillet, heat oil and butter over medium heat until butter is melted. Add onion and thyme; cook about 10 minutes, stirring frequently, until onion is golden brown. Remove from heat.
Heat oven to 375°F. Roll dough into 12x10-inch rectangle. Cut dough in half lengthwise. On ungreased cookie sheet, place dough pieces about 2 inches apart.
Bake about 10 minutes or until light golden brown. Cool slightly, about 2 minutes.
Top each baked crust with cheese, caramelized onions, olives and roasted peppers. Bake 4 to 6 minutes longer or until cheese is melted. Using pizza cutter or serrated knife, cut each into 12 squares. Serve warm.