Term I like to use to mock rowers and rowing. A spandex monkey = a rower, because he or she is most likely a monkey-like creature who wears spandex to race.
Me: Hey, spandex monkeys, how did the stick-pulling competition go!
Spandex Monkey: Great... Now I have a shiny object to play with
Uber bicyclist completely clad in spandex. Often the spandex suit is covered with logos of corporations and other brand names to make it look as if they were sponsored racers - the irony being they actually paid to be a rolling advertisement. They often tend to be aggressive riders in inappropriate settings, like public trails.
While riding on the trail yesterday, I was passed by a clod of spandex monkeys.