a person (either gay male or straight female), who is open to having sex with anyone that wants it, not refusing anybody the pleasure even if it's not a pleasurable experience. the town bicycle is notorious for having STD's such as crabs, VD or worse.
"well if you're desperate for a shag there's always Sandy/Tim, they're the town bicycle, but i'd make sure you wore a condom as they've had most other towns in the area as well as this one!"
Someone who is open to pleasuring anyone who asks.
Also is a sex position.
First you need to know what a bicycle is. Its when a guy and a girl does doggy style, but the guy holds the girl's shoulders like handle bars and pedal's his feet like a bicycle.
A town bicycle is when a group of people does the bicycle, but in a line. so the 2nd girl's face is in the 1st girl's crotch. and the 3rd girl's face is in the 2nd girl's crotch, and so on.