Place olives in a medium bowl; set aside. Place sun-dried tomatoes in a medium bowl, and cover with very hot water. Let stand 15 minutes; drain. On a work surface, thinly slice tomatoes.
In a small saucepan, combine vinegar, olive oil, sun-dried tomatoes, chile, and red-pepper flakes; bring to a simmer. Pour warm mixture over olives, and marinate at room temperature for at least 2 hours.
Olives may be made 1 week ahead, and refrigerated in an airtight container. Return to room temperature before serving.
