Alongside his brothers Otilio and José, Gustavo Olguín represented Mexico in water polo at the 1952 Helsinki Olympics, where they had the misfortune of facing upcoming gold medalist Hungary in the qualifying round and were eliminated after 13-4 loss. Gustavo continued to play water polo for many years, but his main passion was painting. He had received a degree in visual arts from UCLA in 1950, and would go on to receive training in England and Rome. His paintings and engravings received international attention, and his works were exhibited around the world as he reached the peak of his career in the 1990s. He also had an interest in plants, and was well-known in academic circles as a plant collector.