The collection, styled with assistance from London 2012 sponsor and licensee Next, features a wide selection of products.

It also includes clothing by Adidas, items for the home from ceramics to bedding, mascot toys and figurines, various collectable items such as pins, stamps and coins and a full range of accessories from the fun to the iconic.

The majority of the merchandise on show used the vibrant colours of the London 2012 colour palette with popular design features such as the London skyline and the union flag.

The collectables range in price from £1 ($1.50) for London 2012 pencils manufactured by Football Mania to sets of limited edition London 2012 stainless steel playing cards from Touch of Ginger which retail at £2,012 ($3,158).

London 2012 claimed that the wide variety of merchandise on sale means that there will be something for everyone though it is the 30 centimetres soft toys of London 2012 Olympic and Paralympic mascots Wenlock and Mandeville, which are priced at £25 ($39) each, that are expected to be particularly popular.

London 2012 chief executive Paul Deighton said: "With two years to go until the Games get underway, excitement is building and creating London 2012 merchandise is going to be a key part of that as it is at all major sporting events.

"We have some fantastic products coming up, the sale of which help fund the staging of the Games and is a great way to engage with London 2012."

For those who cannot wait for Father Christmas, there are already a number of London 2012 products on sale.

Next released their first clothing collection this week to coincide with the two years to go to London 2012 milestone which includes various limited edition t-shirts, each individually numbered from 1 to 2,012.

The Royal Mint have released their second in a series of four special £5 countdown coins which are being launched annually from 2009 until 2012 and are available in gold, silver and cupro-nickel while the Royal Mail has released the second series of sporting stamps.

A "Two years to go countdown" pin badge, the second set of four collectable die cast taxis and a limited edition Wedgwood mug are also currently on sale while the soft toy of Mandeville will join Wenlock on shelves on August 29 this year to mark two years to go to the Paralympics.

London 2012 are hoping to recoup some £80 million ($126 million) from London 2012 merchandise, though a cut of the profits will go to the merchandise licensees who are mainly British based companies.

Merchandise is available from the new London 2010 flagship store which was opened at St Pancras International earlier this week, John Lewis and Next stores nationwide and the London 2012 on-line store which can be visited by clicking here.

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