Yo Riley,
I may like this one better than your other recent exceptional and unique postings. Its kind of a warped version of those multiple early 60's paeans to a favorite ride, such as Little Honda. The lyrics are a hoot, and the arrangement is deft and detailed-much better than it needs to be, sort of like Brian Wilson's were. It even has something like jingle bells in the chorus.
I grew up in a white bread neighborhood and the Schwinn Stingray -with the banana seat and butterfly handlebars- came out in 1963 when I was 10 years old. Seemingly overnight, everyone seemed to have one. By the end of the decade, Peter Fonda had the same handlebars on his motorcycle in Easy Rider. And of course, there are the flying banana bikes in E.T.
Real good stuff.
Cheers,
Bert