The Scottish FA ruled out participation but has no objection to the other home nations forming sides for the men's and women's Olympic and Paralympic teams.
England and Northern Ireland are in favour, while the Welsh FA, having initially been against the idea, are now deciding whether to reconsider.
The Scottish FA had been given written assurances by FIFA president Sepp Blatter that taking part in the 2012 Games would not affect their separate identity in world football.
But there are concerns that some within FIFA oppose Britain having four sides and Blatter may not be in power in 2012.
An SFA spokesman said: "We are just being entirely consistent with the position we have held for years."
However, a British Olympic team may not exist beyond 2012, as no united British team plays in the European Under-21 Championships, which serves as the qualifying tournament.
Britain qualifies automatically in 2012 as hosts.
