Cut each large flour tortilla in half, creating two semi-circles from each tortilla.
Roll each tortilla half tightly into a cone shape and secure with a toothpick to keep it from unrolling.
Place all cones on a parchment-lined baking sheet, lightly brush the outside with olive oil, and bake at 375°F (190°C) for 5 to 6 minutes until lightly golden.
Carefully remove the cones from the oven and take out the toothpicks while they're still warm and flexible.
Brush the inside of each cone with BBQ sauce or tomato sauce using a small brush or spoon.
Fill each cone with shredded mozzarella, mini pepperoni slices, sliced black olives, and diced bell pepper, distributing fillings evenly.
Return the filled cones to the oven and bake at 375°F (190°C) for 6 to 8 minutes until the cheese is completely melted and bubbly.
Remove from the oven, finish with fresh basil if desired, and serve warm.