A motorcycle construction permits a rider to assume either a first, elevated crouched racing position, or a second lowered, reclined, feet-forward "custom chopper" position. The motorcycle includes a main frame assembly having a front wheel suspension assembly and a set of handlebars, and a rear wheel suspension assembly with a rear wheel, and a combined engine/transmission assembly. The main frame has a seat for a driver, and a driver footpeg assembly. The footpegs provide a fore position for use with the reclined "custom chopper" position, allowing the driver's legs to be extended in a forward direction for using the fore footpeg position. The footpegs provide an aft position for use with the elevated crouched racing position. A seat moving assembly moves the driver seat between the first elevated position, used with the aft footpeg position, and the second, lowered seat position is used with the fore footpegs position.