I have the grossest bike, but it doesn't have any working problems with it.
Step 1: Materials
rustoleum red and black paint
Step 2: First Coat
Color the bike black first and let dry
Step 3: Color
Color the left handlebar and the front wheel red.
Step 4: Color
Color the back inside of the wheel and the right pedal red plus the two crossbars.
Step 5: All Done