The brightly coloured posters depict images that each of the artists felt were representative of the Brazilian city, including a muscular runner on Copacabana Beach and a child flying a kite over a favela.
Others show motifs tied to fishing, nature and the sea, while some present adaptations of traditional Olympics images such as the five rings and the torch.
The works have been produced by 12 Brazilian artists – Alexandre Mancini, Antônio Dias, Beatriz Milhazes, Claudio Tozzi, Ana Clara Schindler, Gringo Cardia, Gustavo Greco, Gustavo Piqueira, Guto Lacaz, Juarez Machado, Kobra and Rico Lins – and one Colombian, Olga Amaral.
Carla Camurati, director of culture for the Rio Olympics, said the posters were meant to represent the many walks of life in Brazil.
"It's really hard for us in Brazil to choose one artist to represent the Olympic Games, or represent the official posters," Camurati said at the unveiling.
"The important thing for us and the Olympic Games is to show Brazil as it is, with the colours, with the brightness, with the beauty of the mixture of people that we have here; the mixture of roots that we have," she added.
Some artists created abstract images featuring graphic patterns and bold colours, and one studied the varied grids of sports fields. Another poster consists of white specks sprayed across a black background.
The posters were first unveiled on the 12 July at an event inside Spanish architect Santiago Calatrava's Museum of Tomorrow, where they were exhibited until 22 July.
The collection is now on show at the Deodoro Olympic Park, and will be displayed throughout the duration of the games. Afterwards the posters will hang in various Rio schools.
In the run-up to the games, Rio's preparation has been heavily scrutinised. Last week, the Rio 2016 organising committee admitted that 19 of the 31 towers that make up the Athletes Village had yet to pass full checks.
Flooding, broken elevators, mould and ceiling holes have reportedly caused the Australian team to temporarily relocate. The Italian and Dutch contingents have also voiced concerns.
A boat ramp designed for sailing competitions at the Olympics in Rio de Janeiro also collapsed just days ahead of the games' opening ceremony.