

Olive trees, olives and olive oil
Olive trees - they could have their own biome, like a mediterranean climate biome; the house in the first image is just an example of a build with olive wood, which would be green/olive green; some blocks of its wood in the second image.
Olives - they can be collected by breaking olive leaves, they function as saplings, being used to plant the olive trees; they also serve as a food source.
Olive oil - it can be crafted with a bottle and an olive, it can also be used as a food source, and in some crafts.
Oil lamp - it can be made with four bricks and a bottle of olive oil; it is a decorative item, and it illuminates as well as a candle.
Oil blocks - (they were supposed to be semitransparent in the image but for some reason it didn't work) can be crafted in the same way as the honey block, but with bottles of olive oil instead; when a block on top of the oil block is pushed by a non-sticky piston, it slips for as many oil blocks there are on front of it until the last block; for entities it would be as slippery as ice, but not as much as packed and blue ice, and the speed of boats on top of it would remain constant, not making ice tracks redundant.