It means I'm going to give cyclists much more room than 3 feet when I pass.

This is based on some graffiti first seen in the other Portland (OR):

http://bikeportland.org/2007/08/22/fight-back-stencil-sparks-dialogue/

im not entirely sure what it means. but i love it. its like guerilla art. the town i used to live in a state that will remain undisclosed, there were a couple of anonymous artists that would take old bikes and trikes, paint them this obnoxious periwinkle blue and put them in public places - sidewalks mostly. Its situational art...like having made this bike blue and placed it there, made us reflect on the context of things that are ordinarily mundane, like the bike or the sidewalk. this went on for years, is still going on. the only reason i have an inkling of who does it, is that its a 'friend of a friend'. The anonymity is another aspect of the statement (what? where? who? how? why?)