To prepare a venison steak with peppers and onions, you'll first need to cut the meat into steaks. Cut the steak in half lengthwise. Place the cut side down on the cutting board. Season both sides with salt and pepper. Heat the olive oil over medium-high heat. Add the chopped onions and garlic. Cook, stirring frequently, until the onions are translucent and the garlic is fragrant, about 5 minutes. Remove the pan from the heat and set aside.