Freddie Mercury wrote this in France after watching the Tour de France bicycle race ride by his hotel. The band were recording Jazz in the French countryside mainly as a tax break - Roger Taylor claimed in the Days of our Lives documentary that they were being taxed as much as 98% on royalties on previous albums, hence why they defected to France and later Montreux in Switzerland to record future albums.
This was released as a double A-side single with "Fat Bottomed Girls." They ran back to back on the album, and many radio stations played them together. The "Fat Bottomed Girls" are mentioned in this song's lyrics.
Wherever Queen played, bicycle shops sold out of bells bought by fans who brought them to the show to ring them during this song.
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