Cook the Ground Meat: Heat a skillet over medium heat. Add the ground beef or turkey and cook until browned. Drain any excess grease.
Add Taco Seasoning: Stir in the taco seasoning mix and water. Cook for 2–3 minutes until the mixture thickens slightly.
Mix in Creamy Ingredients: Remove the skillet from heat. Stir in the cream cheese, shredded cheddar cheese, and ranch dressing until the mixture is smooth and well combined.
Prepare the Cups: Preheat your oven to 375°F. Arrange the phyllo cups or wonton wrappers on a baking sheet.
Assemble the Bites: Spoon the taco mixture into each cup, filling them generously.
Bake: Bake for 8–10 minutes, or until the cups are golden and crispy.
Add Toppings: Top each bite with diced tomatoes, chopped green onions, and sliced black olives as desired. Serve warm with sour cream on the side.