Kerrie falls short
"I'd give anything to say I was an Olympian and compete on that stage, but for now that's not going to happen," the long-jumper said.
Speaking ahead of Monday's Australian athletic team announcement, Taurima conceded her season best jump of 6.47m was not far enough to be considered for Beijing.
"I didn't have a very good season domestically unfortunately," she said.
"I finished second at the nationals but didn't do the A-qualifiers (6.72m).
"I had a break after the nationals and then went to Japan in early May but again my form from the season carried through."
Taurima said her selection chances crashed after jumping at three events in Asia, including a grand prix in Osaka, Japan, and a test event at the Olympic stadium in China.
"I had three competitions, so when things hadn't turned around by then it was pretty evident that it (Olympic selection) was gone," the 2006 Commonwealth Games silver medallist said.
"I would've really loved to have taken things from the Comm games and moved on to Olympics; especially because at Athens in 2004 I was jumping really well but had on-going hamstring problems and missed out again.
"The Olympics are the pinnacle of competition. It's the be-all and end-all.
"It takes a while to come to terms with but I've had three-and-a-half weeks off training; a little break ... I'm not (feeling) too bad."
Taurima has now taken up the triple-jump to add some variety to her program and will work towards the 2010 Commonwealth Games.
"I'm going to keep going," she vowed.
"I was always looking to compete for another two years regardless of the Olympics.
"I'm looking for the world champs next year and the Comm games in 2010, and then reassess and see how my body is going.
"I'd love to stay in it forever but unfortunately I can't."
It seems London's 2012 Olympics is too far away.
"It's really disappointing," she said.
"It's what you work for and it's a long wait until the next Olympics.
"I have to face the reality that maybe I won't be there, that my body wont hold out that long."
Taurima said she would watch the Olympics on television alongside husband 'Jumping' Jai, the Sydney 2000 Olympic long jump silver medallist.