Slice one piece of toast into circle with 4-inch diameter.
Slice second piece of toast into half-circle with 4-inch diameter, which will act as base of snow globe.
Spread 1 tablespoon cream cheese onto bottom fifth of circular toast.
Cover base of snow globe with slices of bell pepper, cut to correct width.
Stack medium black olive on top of jumbo black olive and affix to toast with cream cheese.
Add decorations to olive snowman by affixing two small sugar snap peas to body of snowman, pretzel stick arms to sides, small piece orange bell pepper for nose and two small dots cream cheese for eyes.
Decorate base with green olive rounds and three sugar snap peas in center.
Use cookie cutters to cut four small snowflakes and four large snowflakes out of slices of cheese. Arrange snowflakes around outside of plate and place cilantro leaves between each snowflake.
Place remaining cream cheese in small plastic bag and cut small hole in corner. Pipe small dots on circular toast around snowman.