Take a casserole dish and spread bean dip on its bottom. If you do not want to clean up the casserole dish after eating the layered dip, you can consider using disposable pie tin instead.
Take sour cream and mix it with dried taco seasoning mix. Here, you should start with half of the sour cream and check if it tastes well. You can then add some more amount, as per your taste preference. Now spread the sour cream layer over the bean dip layer that you had created in the first step.
Now you will have to make guacamole, or you can also purchase a ready-to-use guacamole from the market. Use it to create a new layer on top of the previously made sour cream layer.
Take salsa and use it to make the fourth layer in the layered taco dip, prior to adding the fifth layer by sprinkling the shredded cheddar cheese.
It is now time to give a refreshing touch to the layered dip. For that purpose, take drained black olives, diced tomato and sliced green onions and add them on top of the dip.