A tricycle is provided having a front frame assembly, a rear frame assembly pivotally connected to the front frame assembly, and a release assembly connected to both the front frame assembly and the rear frame assembly to secure the rear frame assembly to the front frame assembly in a use position and alternately in a storage position. The release assembly is moveable to allow for transitioning the rear frame assembly to the storage position from the use position. A foot rest is connected to the tricycle and is also moveable between a use position and a storage position. The tricycle also has a restraint hoop and a canopy, and quick release mechanisms to removably secure the restraint hoop and the canopy to the tricycle.