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2012 Olympic logo by Wolff Olin's taken on by Futurebrand to create the rest of the Visual system. You can see how the shards, angular aspects of graphics used on tickets, signage, plinths etc came about.
A Look Into Six Olympic Logo Designs - Hongkiat
Sydney use 3 colors to form an image of running athlete relaying the Olympic torch. Blue carve out the form of Sydney Opera House; red and yellow shape the running image. Each color of the logo has symbolic meanings: blue refers to the blue harbor; yellow represents sun and beach; red means the native culture.