In his teens, he was a gifted gymnast and an aspiring actor who tried his luck with several amateur theater companies and enjoyed some local success.

One year later, while working as a technician in Canal 7, Argentina's first television station, his improvisation skills caught the attention of the management, whom gave him acting jobs in several TV shows.

While Olmedo had a string of successful children's programs during the 1960s, he gained the most notoriety when allowed to mix slapstick, nonsense and adult-oriented entertainment.

Starting with Gringalet in 1959, Olmedo starred in 49 movies, including: Los Doctores las Prefieren Desnudas [3] (Doctors Prefer Them Naked), in 1973, Maridos en Vacaciones,[4] (Husbands on Vacation, 1975), Fotógrafo de Señoras[5] (Ladies' Photographer, 1978), Las Mujeres Son Cosas de Guapos[6] (Women Are for the Brave, 1981), Los Fierecillos Indomables[7] (The Indomitable Little Beasts, 1982), Sálvese Quien Pueda (Every Man for Himself, 1984) and Rambito y Rambón, Primera Misión[8] (Little Rambo and Big Rambo, First Mission, 1986).

In fits of improvisation, Olmedo would stray from script, tear down props, dash past the cameras and verbally abuse his fellow actors.