Combine the rice, cheese, soup, water, onion, and Tabasco in a bowl.
Arrange bologna slices in a shallow baking dish.
(Edges of meat may touch, but should not overlap.) Put about 1/3 cup of rice mixture in the center of each bologna slice.
Top each with a pi miento-stuffed olive slice.
Place under broiler about 4 inches from source of heat.
Broil about 5 minutes, or until bologna slices curl around filling.