Bring a pot of lightly salted water to a boil. Cook shell pasta in the boiling water, stirring occasionally, until cooked through but firm to the bite, 8 minutes. Drain and run under cold water to chill.
Place pasta in a salad bowl and combine with hot dogs, olives, Cheddar cheese, and creamy salad dressing. Stir in more salad dressing if mixture seems dry. Keep salad refrigerated.