Olivia Culpo On Mexico Vacation with Christian McCaffrey

Olivia Culpo and NFL star Christian McCaffrey have taken their newfound relationship down south ... the two are hanging in Mexico together on an apparent couple's trip to Cabo!

Roughly 4 months after officially calling it quits with NFL wide receiver Danny Amendola, 27-year-old Culpo had reportedly started getting close with 23-year-old Carolina Panthers RB Christian McCaffrey. 

Rumors have swirling for weeks about the two ... but now it seems pretty clear there's something going on because they're both in Cabo with Olivia's good friend Kristen Louelle and her husband, Tyler Gaffney. 

If that name sounds familiar it's because Tyler is an ex-NFL running back who spent time with the Patriots and Jacksonville Jaguars. 

As for Olivia and Christian ... unclear how "official" they are -- they might still be in the casual stage, but they're definitely on a trip to a foreign country together and that definitely means something.

Looks like they're all having a great  time -- with Christian and Tyler ripping off their shirts for a fun party game at the beach while Olivia and Kristen cheered them on! 

After the split from Amendola, Culpo had been connected to Zedd, one of the biggest EDM artists in the world ... a relationship triggered Amendola to post a wild Instagram rant calling the DJ a "scrawny little f*ck."

Amendola and Culpo haven't been spotted together since.