In medium mixing bowl, combine softened cream cheese with both types of olives, onions and Tabasco sauce; mix thoroughly. Set cheese mixture in refrigerator about 15 minutes to harden slightly for easier handling. Shape cheese mixture into ball. Roll in chopped parsley to coat well. Return to refrigerator, chill 15 to 20 minutes or until serving. Serve with assorted crackers. If made day ahead, wrap loosely in wax paper. Leftovers can be used as a sandwich spread on rye bread for lunch.