Truly gorgeous scenery. A wonderful way to see the magnificent coastline of the Monterey Peninsula. Start your bike ride at Cannery Row, the Aquarium, or Lover's Point; bike rentals available at those locations from www.adventuresbythesea.com and others. Just stay along the coastline...
There are plenty of stopping places and viewpoints. Look for otters in the kelp beds. Lots of tide pools, crashing waves, scenic views, and on and on. Just a memorable place.
Ocean View Boulevard turns into Sunset Drive at Point Pinos. In that area, take the free tour of the lighthouse (831-648-3116 for hours). Between the lighthouse and Asilomar, the road is a little more narrow so use more caution. The Rocky Shores area is a great place to stop and play in the tidepools. Continue along Ocean Drive to the Asilomar beach area. The road then turns away from the ocean and uphill. At this point Ocean Drive becomes highway 68.
You can enter Pebble Beach on 17 Mile Drive (to the right).
Once upon a time, bicyclists could enter 17 Mile Drive for free on weekends. I have heard that this is no longer true. Check before embarking on your ride.
You can also turn left on 17 Mile Drive and head back to where you started. Then turn left on Lighthouse Avenue or Jewel Avenue. Or if you want more hilly action, keep on 68 after Asilomar and don't turn onto 17 Mile Drive. Stay on 68 past PG High School, then take Forest Avenue or David Avenue back down to the bay. Forest goes to Lover's Point and David to the Aquarium.
Oh, yeah, you can also rent a surrey for riding along the recreation trail, say from Cannery Row to Lover's Point. The surreys are like canopy covered golf carts, powered by people. Kind of fun.