Village/Vanguard of Japan has created a bicycle that’s the ultimate in convenience and portability.  With a single motion, the bike folds to a quarter of its operating size.  Besides an incredible design, the bike comes in a rainbow of 8 different colors.  The bike has 20-inch wheels and is suitable for most children and adults.  It’s available on the Village/Vanguard website for a reported $150, but unfortunately the website is in Japanese.  Hopefully it will be easily available outside of Japan soon. 

If you’d rather share a bike than buy one, see this blog post about a new kind of bike sharing program.