The modern Olympic Games have evolved from a late 19th century curiosity into a cultural performance of truly global magnitude. This paper attempts to explain the remarkable popularity of the Olympics on the basis of the cultural performance theory of anthropologist John MacAloon and the more sociopsychological perspective of sociologist John Loy. Specifically, it is argued that the entire Olympic performance, as well as the performances of the athletes themselves, offer individuals the opportunity to address profoundly important existential questions about the nature of their personal and collective selves. In other words, every 2 years the Olympics offer us a mirror, and in it, we look at ourselves.