The £7m fabric curtain, intended to surround the Olympic stadium in Stratford and minimise crosswinds during the games, would be 20 metres high and 0.9 km wide. It was scrapped after an Olympic spending review.
Absolute Radio is proposing to the Department of Culture, Media and Sport that a Facebook app be created for members of the British public to help raise money to pay for the curtain.
Supporters would pay £10 each to submit their profile pictures, resulting in 700,000 people’s pictures eventually being picked to appear on the wrap.
Ian Wright, presenter on Absolute Radio, said: "The Olympics are the most iconic sporting event in the world and securing the London 2012 Games is one of the country's finest achievements.
"It's important that our stadium reflects our country and the people within – our cultural Olympiads."
The national radio brand has not confirmed whether or not it would sport any branding on the curtain, saying that it was too early to comment, but adding that it would comply with the rules set out by the London organising committee of the Olympic and Paralympic Games (Locog).