This is the Boneshaker Big Wheel, the brainchild of Ron Schroer. Pedaling powers a bunch of Theo Jansen kinetic motion sculpture inspired walking legs in the rear that push the bike forward. It is probably not the bike you want to be riding if you're trying to get away from the cops. It is definitely the bike you want to be riding if you're interviewing for a job with a carnival and want to set yourself apart from the rest of the weirdos.
Keep going for a video of the thing in action.
Thanks to Jessica E, who has never seen a more flammable bike in her life.