The Collaborative International Dictionary of English v.0.48:

Olympian \O*lym"pi*an\ ([-o]*l[i^]m"p[i^]*an), Olympic
\O*lym"pic\ ([-o]*l[i^]m"p[i^]k), a. [L. Olympius, Olympicus,
   Gr. 'Oly`mpios, 'Olympiko`s, fr. 'O`lympos: cf. F. olympique.
   See Olympiad.]
   Of or pertaining to Olympus, a mountain of Thessaly, fabled
   as the seat of the gods, or to Olympia, a small plain in
   Elis.
   [1913 Webster]

WordNet (r) 3.0 (2006):

Olympic
    adj 1: of or relating to the Olympic Games; "Olympic winners"
    2: of the region of Olympia in Greece or its inhabitants;
       "Olympian plain" [syn: Olympian, Olympic]