Last weekend, the New York Times carried an piece called, "When There Were Arts Olympians" by Charles Isherwood. Isherwood bemoaned the fact that "art" is no longer associated with the Olympics.
A week or so ago, Stephen Colbert's guest on The Colbert Report was David Ross, a notable museum curator, who discussed the art of Olympic posters. The interview is below:
Athens to Athens: The Official History of the Olympic Games, 1894-2004 by David Miller [796.48 MIL] has a few pictures of Olympic poster art, as well as a ton of information about the modern day Olympics.