In a small bowl, stir together softeened butter and garlic. Spread garlic butter onto the insides of each sub roll.
Add half of the olive oil to a skillet over medium heat. Saute the onions until golden brown and caramelized, then transfer to a bowl.
Increase the heat to high and add the remaining olive oil. Salt and pepper the meat. Spread the shaved steak in an even layer. Let it brown nicely for a couple of minutes undisturbed, then saute until the steak is fully cooked through. Stir in the onions, sliced banana peppers, and season with salt and black pepper to taste.
Divide the cooked steak mixture into even portions in the pan, top each with 2 slices of cheese, and turn off the heat so the cheese will melt without overcooking the meat. Optionally, cover with a lid to help melt the cheese faster.
Heat a large nonstick skillet over medium heat. Toast the rolls buttered side down until golden brown, then set aside.
Spread a thin layer of mayonnaise on the toasted side of each roll.
Place a portion of the beef mixture into each roll.
Mix all of the ingredients for the homemade lemonade. Serve over ice if desired.
Serve the cheesesteak with carrot sticks, ranch dressing, and lemonade.
Enjoy your delicious Philly Cheesesteak with Banana Peppers!