Plain English Meaning
A landing gear setup with two wheels under the middle of the airplane and one wheel under the nose, so the airplane sits level on the ground.
Full Definition
A landing gear arrangement consisting of two main wheels positioned aft of the airplane's center of gravity and a single steerable nose wheel forward of the center of gravity. This configuration keeps the fuselage level on the ground and places the nose wheel ahead of the main wheels.
Context Anchor
You will see this term when learning basic airplane types, taxiing, takeoffs, and landings in most modern training airplanes.
Derivation
Named 'tricycle' because the three-wheel layout — two in back, one in front — mirrors a child's tricycle. The comparison is the whole of the name: it tells you exactly where the wheels sit.