is there a gold medal for pettiness?

not a photo of the letter, but it is a true copy
of the text of the letter

In a letter sent to Ravelry.com the USOC says ...

using the name “Ravelympics” for a competition that involves an afghan marathon, scarf hockey and sweater triathlon, among others, tends to denigrate the true nature of the Olympic Games. In a sense, it is disrespectful to our country’s finest athletes and fails to recognize or appreciate their hard work.

Anyone else feel your "olympic® spirit" deflated?

® the USOC is a non-profit corporation chartered by Congress to coordinate, promote and govern all international amateur athletic activities in the United States.  The USOC therefore is responsible for training, entering and underwriting U.S. Teams in the Olympic Games.  Unlike the National Olympic Committees of many other countries, the USOC does not rely on federal funding to support all of its efforts.  Therefore, in order to fulfill our responsibilities without the need for federal funding, Congress granted the USOC the exclusive right to use and control the commercial use of the word OLYMPIC a and any simulation or combination thereof in the United States, as well as the OLYMPIC SYMBOL.  See the Olympic and Amateur Sports Act, 36 U.S.C. §220501 et seq. (the “Act”).   The Act prohibits the unauthorized use of the Olympic Symbol or the mark OLYMPIC and derivations thereof for any commercial purpose or for any competition, such as the one organized through your website.  See 36 U.S.C. §220506(c).  The USOC primarily relies on legitimate sponsorship fees and licensing revenues to support U.S. Olympic athletes and finance this country’s participation in the Olympic Games.  Other companies, like Nike and Ralph Lauren, have paid substantial sums for the right to use Olympic-related marks, and through their sponsorships support the U.S. Olympic Team.  Therefore, it is important that we restrict the use of Olympic marks and protect the rights of companies who financially support Team USA.
In addition to the protections of the Act discussed above, the USOC also owns numerous trademark registration that include the mark OLYMPIC. These marks therefore are protected under the Lanham Act, 15 U.S.C. §1051 et seq.