Monkeylectric is a system of LEDs that attaches to your spokes and displays patterns and even words as you ride. If you hadn't guessed its target market, the FAQ includes an assurance that yes, it will work at Burning Man.
It's essentially a AA battery-powered 256 RGB system that straps to a bike's spokes and has a sweet spot of between 8 and 20 mph: At 8, you'll just start to see the patterns in the center, and at 20 the light show will have taken over your entire wheel. It's customizable, but only to a point, as you have to use the on-board buttons to alter the patterns rather than loading images via USB or whatever. Monkeylectric is available now for $60, which seems a fair price to have the best bike at your acid-tripping festival of choice. [Monkeylectric via Boing Boing Gadgets]