A convertible cargo holder for a bicycle that is operable in a cargo mode and a child carry mode. The holder has a frame that is secured to the bicycle and that has a hoop. A liner is removably secured to the frame and has first and second side walls, first and second end walls, and a bottom wall. The liner has disconnecting fasteners to secure the side walls to the end walls, and disconnecting fasteners to secure the liner to the hoop. In cargo mode the side walls are secured to the end walls, and each of the walls are secured to the hoop to create a basket. In child carry mode the side walls are disconnected from the end walls and the hoop, and the side walls hang below the bottom wall. Seats are also provided.