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The colourful bands represent the flags of 14 nations involved in this year's event, which gets underway in August.
Unfortunately for Apple fans, the special edition Apple Watch bands are only going on sale at one Apple Store in Brazil. That store is in Village Mall in Barra da Tijuca, a neighborhood in the West Zone of Rio de Janeiro.
Apple has a wide range of bands on offer for its Apple Watch and it uses a selection of materials to make them. The flag bands in question are reportedly made out of nylon.
They will be available for the following countries: USA, Great Britain, The Netherlands, South Africa, New Zealand, Mexico, Japan, Jamaica, Canada, China, Brazil, Australia, Germany, and France.
The bands will cost $49 (£37) but it's likely they'll fetch considerably higher resell prices as Apple fans and collectors rush to try and get their hands on these one-off items.
It looks as though US sprinter Trayvon Bromell has already been given one of the bands by Apple. He posted a photo on Twitter of himself wearing an Apple Watch with a band depicting the stars and stripes of the American flag. The Apple Watch sits just beneath his tattoo of the Olympic rings.
Ready for rio ! pic.twitter.com/p8PKJ3o5Fs
- IamTrayvonBromell (@TrayvonBromell) July 21, 2016
Apple has designed limited edition bands for the Apple Watch in the past that don't go on sale to the public. Last month the company gave its employees rainbow bands in celebration of Gay Pride.
Apple's Pride Watch band is sweet. Subtle throwback to the retro logo too. pic.twitter.com/b6IkC11co7
- Doney den Ouden (@doney) June 26, 2016
The Californian tech giant also gave celebrities including Karl Lagerfeld and Beyoncé gold versions of the Apple Watch at the time of the device's launch last year.
And Apple CEO Tim Cook also has his own custom Apple Watch. Look closely at the photo below and you'll see a red dot on the digital crown.Reuters
Researchers at analyst firm IDC said Apple Watch sales fell 55% to 1.6 million in Apple's most recent financial quarter.
Designs for each of the new Olympic-inspired bands can be seen over on GQ.