The spelling of the word "bicycle lizard" is a combination of two distinct words. "Bicycle" is a word of French origin, spelled with the letters 'b-i-c-y-c-l-e'. The pronunciation of this word is /ˈbaɪsɪkəl/. "Lizard" is an Old English word, spelled with the letters 'l-i-z-a-r-d'. The IPA phonetic transcription for "lizard" is /ˈlɪzərd/. Together, the two words form the compound word "bicycle lizard", pronounced as /ˈbaɪsɪkəl ˈlɪzərd/. This unique combination of words refers to a hypothetical creature that has yet to be discovered somewhere in the world.
The phrase "bicycle lizard" does not have an established etymology because it is not a recognized term or a common expression. It seems to be a combination of two unrelated words, "bicycle" and "lizard", without any apparent linguistic or historical connection. It is possible that the phrase was coined independently without any specific etymological basis.