I think being asked to design the logo for the Olympics would be just as exciting as being picked on an Olympic team. The designers create everything from the logo to the tickets, the mascots, medals…the list goes on. Generally the Olympic collateral is outsourced to various local graphic design companies to ensure it is all ready in time.
These projects often overlap across mediums, leaving two graphic design companies indirectly throw in together on a project. In the case of the Rio 2016, the logo was made by Brazil’s Tátil Design de Ideias, while the Olympic font — and yes, there is an exclusive Olympic font — was constructed by Dalton Maag, a British typeface firm that has a satellite office in Brazil.
You can read more about the whole process at 99U. The images below are also from 99U’s article.