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A peak bike is someone who is always 'peaking'/paranoid about something or other, or is just peaky and bait to be around.
Jackson: "Hey guys, did you hear that? I think we're being followed"

Everyone: "God Jackson you're such a peak bike"

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Justin: "Hey you know what lads I'm gonna roll a joint"

Everyone: "You're such a peak bike Justin, we're sitting right outside the police station"
Peak Bike by Yaooo March 10, 2013
Related Words

peruvian bike helmet 

a sexual act in which one person excretes feces into their hands, then proceeds to smear it on their partner from the forehead, to the base of the neck. After this sand is then poured over the head of the receiving partner and is then followed by ejaculating over the sand, further cementing the gritty shit helmet onto the scalp.
Donald Trump was seen last Thursday sporting a Peruvian bike helmet, an admittedly much better trade up from his usual toupee.

death bike 

A motorcycle with a loud and scary-sounding exhaust, especially a Harley Davidson with ape hangers, long front wheel forks and long fishtail exhaust pipes.
That death bike scared the hell out of me with that loud and scary exhaust.

on your bike mike

Synonym for "Fuck off". Works best if the persons name is Mike.
- "Aye mate can you sling us a ciggie?"
"nah mate"
- "you're a fuckin dog cunt"
"on your bike mike"

beat her lil bike in 

Hey Theres Sarah Somebody Need To Beat Her Lil Bike In .

Beat That Bike In

A term utilized in description of hitting it from the back. Can be connected with breaking a new bike in.
β€œLil Shorty hopped off the McDonalds shift and I told her I was tryna beat that bike in”