In a large bowl, whisk together the flour, baking powder and salt.
Add the buttermilk and stir to incorporate. The dough will seem to be dry and will not hold together well. At this point, gather the dough together in the bowl and knead until relatively smooth. If the dough is sticky, flour may be added 1 tablespoonful at a time, being careful to knead between flour additions. Only add enough flour to keep the dough from being sticky.
Cover dough with plastic wrap and allow to rest for 30 minutes.
In a large frying pan, pour cooking oil to a depth of 1/2-inch. Heat to 375-degrees F. Divide dough into six equal pieces. Roll each piece into a ball. On a lightly floured surface, flatten each ball into a thin, approximately 6-inch, circle with your hands or a rolling pin.
Working with one piece of dough at a time, place it carefully in the hot oil. Cook until bottom is golden brown, about 2 minutes, then turn over and cook the other side until also golden brown. Note: Bubbles will form in the fry bread as it cooks; this is normal. If a bubble is particularly large, gently puncture it with a fork or sharp knife while it is cooking and carefully press the fork against the bubble to deflate. It doesn't have to be perfectly flat.
Move cooked fry bread to a paper towel lined platter or baking sheet to drain; cover with additional paper towels.
To serve: top fry bread with chili, cheese, lettuce, tomatoes, black olives and sour cream.