In a medium saute pan over medium-low heat, add the olive oil, garlic, onions, red bell peppers, rosemary, chili flakes, and peppercorns. Let saute for 10 minutes.
Add olives, pepperoncini, carrots and vinegar, stir and simmer for 10 minutes over low heat. Serve warm.
Recipe courtesy of Guy Fieri, 2007