I had 45's of Michael Jackson's "The Wiz" and Queen's "Bicycle Race" (though the B-side was "Fat Bottom Girls," which I didn't come to appreciate until much later. Come to think of it, maybe "Bicycle Race" was the B-Side - who knows when you're 6).
My first album was Synchronicity by the Police.
My first tape was a double purchase - Van Halen's 1984 and Huey Lewis and the News' Sports for my 10th birthday. It was the first time I didn't ask for Star Wars action figures for my birthday.
My first CD was New Order's Substance.
EDIT: Just a little bit of investigation solved the question:
"Bicycle Race" is a single by the English rock band Queen. It was released on their 1978 album Jazz and written by Queen's frontman Freddie Mercury. It was released as a double A-side single together with the song "Fat Bottomed Girls"."