I stumbled across this vintage Tron Light Cycle in my basement a few weekends back and how cool is it! This was part of the Tron toyline that Tomy produced back in 1982, pretty much around the same scale of the Star Wars and GI Joe action figures from that time period.
In the Tron movies, the light cycles were not only a mode of transportation but for combat games on the grid. As you can imagine, this is a speedy form of transportation and this toy reflects that. It has a pull back rip cord that launches it pretty far. 
I picked this up at a church rummage sale back in high school, about 15 years after this toy was sold to its original owner. It’s missing an action figure (it comfortably sits one) and the rip cord, but it looks awesome on my toy shelf.
I really wished that they had made some of the original characters in the Tron: Legacy toy line that was out last year. The new action figures are the right size and detail level to look awesome piloting this light cycle.
So who had the red/orange light cycle in the orginal movie?
That would be Ram, one of the programs that was allied with Clu and Tron in the original movie who was derezzed (killed). Ram’s programmer Roy Kleinberg is still alive in the Tron real-world universe, and was behind the “Flynn Lives” hoopla early in Tron Legacy.
Ridiculously Awesome 
I have yet to see any of the TRON movies but i have seen the figures and vehicles everywhere.I always thought the Light Cycles were cool looking!
The Tron films are fun…you should definitely check them out!