The 2012 Olympic Logo was just released. I think the best description I’ve heard is that it looks like an “80’s hangover”.
It looks like a Pink Panther video game on an 8-bit console. But these things always grow on us, right? Just look at Paul Allen’s Experience Music Project. I remember when I thought it looked like something you would find in a junk yard…ok I still do think that.
Regardless, it’s just a brand logo. It has very little to do with the Games.