A simple tilt to the left or right, alternates the picture between the text and logo, and photos of athletes doing their stuff, and getting there rewards. I'm so easily amused. There are more amazing ways to use those little plastic corduroys that coat these shifty little images, by the two image switch is the old stand-by. Reminds me of Cracker Jack.
Lenticular lens images can do all kinds of stuff, from slowly morphing one image into another, to layering, giving a three dimensional effect, to moving images as the substrate is tilted. I've got one other lenticular image bookmark, which I got at the ALA Midwinter, 2010 conference in Boston. I made collage of the bookmarks I got there, and the lenticular is at the bottom left; its from Watson Label Products.
I didn't see much of the Beijing 2008 Olympics. We haven't had a television for a number of years, and that's one of the things I miss. The official website for Beijing 08 is still up! Usain Bolt from Jamaica was the big story, running the 100 meters a few tenths faster than his own record, winning the gold medal is 9.69 seconds. I do remember seeing that race.