Ravellenics, for those that haven't heard the term, is an event hosted on Ravelry during the Olympics. There are events you can enter projects, and win digital medals. The rules state you start at the opening ceremony and finish by the closing ceremony.
I have done this many years now, every two years. Most years I do a spinning project, but the last two times I have done knitting projects with hand spun yarn.
This podcast talks about three of this years projects for Ravellenics, two completed and one still in progress.