Heat oven according to crescent roll package directions.
Cut hot dogs into three equal sections.
Lay out crescent rolls and wrap around middle sections of hot dog pieces.
Cut triangles out of end sections to look like antlers.
Cut two slits at top of dough; press end hot dog pieces into slits.
Bake according to crescent roll package directions. Cut out small circles from sliced cheese for reindeer eyes. Cover cheese pieces with small slices of black olives for pupils. Add ketchup to hot dogs for red noses.