Here’s a couple of stories on the evolution of those symbols used for the various sports at the Olympics. They began with the 1964 Olympics in Tokyo, but attained a cleaner, more Saul Bass-like effect for Munich in 1972, as designed by a fellow named Otl Aicher. These proved to be more lasting and iconic:
Some of the design around the London games is pretty horrible — like the logo, ugh — but the examples of usage on SomeOne’s page are quite effective:
There an unembedable video on the SomeOne page that shows how the logos can be rendered in 3D as dynamic shapes. There’s also this useful quote:
If you create something to look good on the back of a bus, it’ll look good anywhere!