Preheat your oven to 350°
Sautee the onions and peppers in olive oil until the onions are translucent and the peppers are soft. Set aside.
Using a cookie cutter, cut approximately 12 rings out of the tortilla wrap. You can also use cookie cutter of various shapes such as stars, hearts or animal shapes as well. Line the cut out tortillas on to a greased cookie tray.
Top each mini tortilla with shredded cheddar cheese then with the sautéed onions and peppers. Bake for approximately 7 minutes or until the cheese melts.
Remove and serve!