The Athlete's Village
Home to 17,000 athletes during the games, the Athletes' Village will really come into its own after the Olympics end. They'll be adapted and 2,400 new homes will be created here, great news for London's housing crisis. I particularly like how the different blocks, designed by various architectural firms, relate to each other but have their own identities, as well.
The Parade of Nations
I can't be the only one who loves watching the opening ceremony's Parade of Nations for the style, can I? It's like an international fashion show, except the models are healthy and smiling. India, Belgium and The Netherlands were my favorites this time around, as well as the face-covered dresses worn by the sign-holders.
The BBC has an interesting page on medal design, featuring images of every Olympic medal to date. This year's are the largest so far, and feature a traditional Greek goddess on one side, and the modern (some might say jarringly so) London 2012 logo on the back.
Last but certainly not least, Thomas Heatherwick's stunning Olympic Cauldron seems to be on everyone's lips these days. Made of 204 individual copper petals (brought into the stadium by, and to be returned to, each competing nation), it was transformed into a flaming bouquet before the world's eyes.