oleo, olio

Oleo or oleo is an old-fashioned word for margarine or imitation butter made with lard or animal fat--
Fry the patties in a tablespoon of oleo.
Most people use margarine made from vegetable oil now, instead of oleo or oleomargarine.

Olio or olio ( rhymes with oleo ) means a stew, or a mixture in general--
Here's an old-fashioned recipe for an olio made with beef, chicken, ham, and vegetables.
She made an olio out of the leftovers, a very tasty one.
They'll be performing a musical olio, made of short pieces by different composers.

Olio may also mean a sort of sideshow performed on a theater stage--
While they're changing the set, we'll have the comics do an olio in front of the curtain.

Now that you know that, you can say--
"To make the olio, first brown the meat in a lump of oleo."