Preheat the oven to 200°C. Trim the hard crusts from both ends of the loaf of bread. Slice the remaining loaf into 1/2- to 3/4-inch slices; you will have between 14 and 16 slices. Using the cookie cutter, cut 1 to 2 ghosts from each slice of bread, depending on the size. Reserve the scraps for making fresh breadcrumbs, stuffing or bread pudding.
Lay the ghosts on a rimmed baking sheet and lightly brush with 1 tablespoon of the olive oil. Season all the slices with 1/4 teaspoon salt and 1/4 teaspoon pepper. Bake in the oven until toasted, flipping halfway, 10 to 12 minutes. Set aside to cool.
While the bread toasts, put the olives, parsley, sundried tomatoes, flavored oil, capers, remaining 1/4 cup olive oil, 2 tablespoons water and 1/4 teaspoon pepper in the bowl of a food processor. Pulse until chunky and then process until mostly smooth. Add the lemon juice and pulse a few times to incorporate.
Serve with the ghostinis on the side plus additional grissini breadsticks and/or flatbread crackers.