I randomly rented a VHS of this at a library as a kid , maybe 20 years ago.
This fun, animal-themed sports movie was originally a pair of hour-long specials to coincide with both the Lake Placid Winter Olympics and Moscow Summer Olympics back in 1980.
From what I learned, political controversy led to NBC's cancellation of the Moscow Summer Games coverage and, as a result, the original Animalympics summer special was not shown.
Both the Summer and the previously-aired Winter specials were later edited into a single movie that made its way to home video and Disney Channel (and some premium TV channels like HBO) throughout the 90s, after failing to hit theaters.
Saberspark made a retrospective video on Youtube a couple months back, giving a better explanation behind the movie's broadcasting complications, and why the movie itself was so enjoyable.