Sara1987 is wrong. Olive skin is not as rare as it seems. Pink undertones are actually rare if anything.
I myself have olive skin---but fair. I have dark hair/dark eyes so with my natural dark brown/black hair I look snow white without any makeup. However with close inspection in the natural daylight---you can clearly see VERY obvious yellow/green undertones in my skin that make up the olive hue. The fact that I dyed my hair a Rihanna/Snooki shade of red recently makes it even MORE obvious. So yes, olive skin can look dull and sallow! Its all about the undertones!