Check this video of a 23 year old clean cut super skinny frank zappa teaching steve allen how to play the bike with drumsticks and bow. part one and part two at youtube.
The playing starts at around 3:20 in the second video, but the lead up is pretty good if you have the time.
Also, damn kids from nashville rage on their cruisers, it appears that they are the next big thing, they sound a bit like sleater-kinney to me, but you can't fault damn kids, punk rage and bikes. See the excellent bicycle based evil of Be Your Own Pet here, be your own pet website here, get their album at your local purveyor or online
Finally, via the innovators at chunk666, a don't try this at home video, flaming bikes of death. Astounding.