In anticipation of the upcoming Olympic games, I have recommended to the IOC some events of my own invention. Don't be surprised if you see some of these in the Beijing games later this year.
1. High and Narrow Jump: Similar to the high jump, except that there are also two vertical bars that you have to squeeze between. A jumper's score is the height divided by the width. Having seen the Beijing Acrobats live, I'm expecting a score of about 6 (e.g. 6 feet high / 1 foot wide).
2. Sprintathon: Runners are spread evenly around a track. When the gun fires, you run as fast as you want. If the runner behind you catches you and tags you, you're out. Last one still running wins. It will be interesting to see if sprinters or marathoners have the advantage.
3. Underwater Swimming For Distance: Everyone starts on one side of the pool and goes back and forth underwater, as fast or slow as they want, until they have to come up for air, or until their body floats to the top. Kids, don't try this at home!
4. Ski/Snowboard Jump: This is a tandem event for the Winter Olympics (or if they pass, the X Games). A skier and a snowboarder go off the long jump at the same time, but they must swap equipment in mid-air before landing gracefully.