The vehicle, decorated with flags from different countries and stating the Olympic and Paralympic values, is visiting Wyke Regis Infants School.
The caravan, which was painted by teachers from across the borough and filled with sporting items, is touring schools with the aim of inspiring youngsters to get excited about the London 2012 Games.
Two performers with Gobbledegook Theatre are touring with the caravan, telling stories in schools and getting the children involved.
One performer, Will Ashwell, said: “Our job is to enthuse and engage.
“I come in two days a week to tell stories but the body of the project is that the kids can explore it during the rest of the week, and it leaves a real legacy.”
He added: “The response from the children here has been amazing.
“They really seem to love it.”
The Chesil Education Partnership secured funding from the Sir Samuel Mico Trust to create the caravan.
As well as helping to paint the Olympic caravan, a number of teachers also put together boxes to decorate it.
Teachers from the Wyke Regis school, which teaches children aged from four to seven, made a box around the theme of the Winter Olympics, which will be taking place in Russia in 2014.
The box includes lesson plans for healthy meals and polystyrene balls to represent snow.