Here are some links to some printables that I found for your Olympic party. I printed out a sheet to include in my Project Life binder also!
Full adorable Go USA party bundle (this is my fav): http://blog.catchmyparty.com/2012/07/24/free-go-team-usa-summer-olympics-party-printables-from-love-party-printables/
Truly adorable kids Olympics set: http://www.tinyme.com/tinyme-games
Simple and quick, this post also includes some great decorating and food ideas: http://www.mirabellecreations.blogspot.com/2012/07/free-printables-and-mirabelle-creations.html
Here's a different spin to this idea (different colors, focus on the cute mascots):
Cute party favors like medals, cupcake toppers and a medal count scoring sheet:
And Becky Higgins posted this link on her facebook (which I've been stalking waiting for the new plastics to come in on Amazon) it's a great read from themomcreative website: http://www.themomcreative.com/2012/07/10-ways-to-document-the-olympics-for-project-life.html
If you have time make sure to leave a comment to them since it's so nice of them to share their creativity.