The noun 'bicycle' functions as the subject of a sentence or
clause, and as the object of a verb or preposition:
The red bicycle was very cool. (subject of the sentence)
I bought a basket for my bicycle. (object of the preposition
'for')
The noun 'bicycle' used as adjective, called an attributive
noun:
There is a bicycle lane on the road where I live.
The word 'bicycle' is also a verb:
We often bicycle to the library.