Heat oven to 350°F. Cook beef, taco seasoning and water as directed on taco seasoning packet.
Meanwhile, separate dough into 8 biscuits; press each into a 6-inch round. Place on ungreased cookie sheets.
Bake 8 to 10 minutes or until golden brown, rotating pans halfway through bake time. In small bowl, mix ranch dressing and salsa.
To assemble each chalupa, layer beef mixture, lettuce, onion and cheese on half of each warm biscuit round. Fold unfilled half over cheese to form chalupa. Use toothpicks to secure filled chalupa, and attach olive halves on top to look like eyes. Use quartered tomatoes for teeth. Drizzle with ranch sauce mixture.