Each figure is a 4-bar phrase. A slow reel is best for this one!  

On the name of the dance: While learning French in Switzerland, I would consistently replace the phrase “faire du velo” (“to ride the bicycle”) with “faire *le* velo” (“to do the bicycle”). A friend pointed out that my mistake made it sound as though I was in fact trying to be a bicycle, and that was the inspiration for this dance.