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Remove all but 2 tablespoons of the bacon fat from the pan and place back on the heat. Add the olive oil and increase the heat to high Season the shrimp with salt and pepper, and add to the pan with the garlic. Saute until golden brown on both sides and just cooked through, 1 to 2 minutes per side. Remove shrimp to a plate. Reserve the garlic oil to drizzle over the finished dish.
Divide the grits among 4 bowls and top each with 5 shrimp. Drizzle the top with some of the bacon-garlic oil (that the shrimp were sauteed in) and sprinkle with some of the green onion.