If you've ever seen olive oil that got left out in the cold you might have noticed it separates and coagulates - this is just the trick of managing that process.
The spread reverts to liquid more-or-less on contact with bread, so it doesn't 'sit' like butter, but it allows you to get a nice even distribution. Of course, it doesn't work so well for toast or in buttery pastry recipes.
You will need:
1. Olive oil - in the UK you can bulk-buy decent quality olive oil cheaply from a good Middle-Eastern or Asian grocer or wholesaler's
2. A plastic pot with sealing lid
3. A freezer
4. A fridge
Pour the olive oil into the pot, not quite filling it. Seal and place in freezer for about 24 hrs or until solid. Remove to fridge and let sit for a few hrs. It should now be a nice creamy spreadable consistency. Keep it at the back of the fridge or in the coolest spot. It will gradually soften over a couple of weeks - just pop it back in the freezer to firm if needed. You might find results vary depending on the temperature of your fridge, the weather, etc.
Post Script: This was my own whimsical invention but of course now I look I realised someone else has posted an identical recipe before me - check out https://www.instructables.com/id/Homemade-olive-oil-spread/!