Combine ham, walnuts, onion, olives, red pepper and saltines, stirring until well-blended and smooth.
Stir milk into biscuit mix to make soft dough; beat 20 strokes until stiff. Divide dough in half. Roll each portion into a 12" square; spread 1 c. ham mixture on half of square. Fold uncovered half over ham mixture to form a 12 X 6" rectangle. With a sharp knife or pastry wheel cut in 36 (2 X 1") rectangles. Twist each gently to form a bow and sprinkle with paprika. Repeat with remaining dough and ham mixture.