At Walmart, I found the Schwinn Hopscotch 16-Inch Kids' Bike on clearance. It was originally $199.99, but the price has been slashed down to only $69.
I checked on Amazon to compare prices, and it was already sold out, but there is a Schwinn 12-Inch Bike on sale if you're interested.
And if safety's a priority, learn how to score free bike helmets.