The action was in support of Springbok second row Bakkies Botha who had been ruled out of the match having been found guilty of illegally making contact with Adam Jones at a ruck during the second Test in Pretoria a week earlier.
Botha's challenge left Jones with a dislocated shoulder but the South African squad felt his actions should not have led to a suspension and they decided to make their feelings clear during the final match of the series.
An independent disciplinary committee has since found the Boks guilty of bringing the game into disrepute and imposed a fine of £10,000 on the South African Rugby Union.
Springbok skipper John Smit, who attended the hearing in Dublin along with head coach Peter de Villiers, has been fined £1,000, while every other player involved in the protest will have to pay a fine of £200.
"The playing arena is no place for protest," a three-man ruling committee said in a judgment which also stated that the place and timing of the protest "showed a serious lack of respect and consideration" for the Lions.
The IRB themselves have voiced their frustration with the punishments imposed on the Springboks and the SARU as they had hoped to see much stiffer sanctions handed down the world's leading team.
"The IRB is extremely disappointed at the level of sanctions imposed against the South African Rugby Union and its players in light of the clear findings that they have brought the game of rugby into disrepute and acted in a manner which is prejudicial to the best interests of the IRB and the game of rugby," said an IRB statement.
"The IRB is giving urgent and serious consideration to the decision of the Independent Committee and the further options available to it, which include whether or not to bring an appeal against the level of sanctions imposed by the Committee."
Meanwhile, the SARU have announced they are currently reviewing the findings and will make a statement once that review has been conducted.