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A multi-sport event is an organized sporting event, often held over multiple days, and featuring competition in many different sports between organized teams of athletes from (mostly) nation-states. The first major, modern, multi-sport event of international significance was the modern Olympic Games.

Many regional multi-sport events have since been founded, modeled after the Olympics. Most have the same basic structure. Games are held over the course of several days in and around a "host city," which changes for each competition. Countries send national teams to each competition, consisting of individual athletes and teams that compete in a wide variety of sports. Athletes or teams are awarded gold, silver or bronze medals for first, second and third place respectively. The games are generally held every four years, though some are annual competitions.

Source: http://en.wikipedia.org/wiki/Multi-sport