When calling somebody a "dyke bike" you are essentially calling them gay, stupid, or lame. Can also be referred to as "that bike".
You can be a dyke and not ride that bike, but if you read that bike you are most certainly a dyke.
Being a Dyke Bike is a bad thing, avoid riding that bike at ALL costs.
Joey: I'm the coolest person ever.
Chaz: Nah son, you're riding that Dyke Bike.
Joey: You're right, YOU HAVE ONE KILL ON YOUR HOOOOSTTTT!
Joey: Yo Chaz are you ridin' that bike?
Chaz: Ova Dova.
The male equivalent for a fag hag. A heterosexual male that hangs out with a lesbian or lesbians.
Everyone knew that Ann was the fag hag
of her friends, but it was not well known that her brother George was the dyke bike of his friends.