I do the same but generalize a little and have: 2/3 cup red wine vinegar. 2 cups olive oil. 1/3 cup Dijon mustard (adds flavor and keeps the oil and vinegar from separating, i.e., acts like an emulsifier). 1 T (tablespoon) minced garlic. 1 T Worcestershire sauce. 1/4 cup bottled, minced, dried Parsley. Some salt and pepper.
Uh, for the red wine vinegar and olive oil, I just buy the cheapest, in ~1 gallon jugs.
I don't bother to refrigerate it.
1.5 t (teaspoon) on toast is good!
Right, it's vinegar/oil ratio 1/3, traditional.
Right, some French cooking sources would say it's a version of Sauce Vinaigrette.
And as I recall from an old story about California, might add crushed anchovies and an egg and serve it over Romaine lettuce with Parmesan cheese and toast cubes (croutons with the vinaigrette). Artichoke hearts are another possible addition.