Here is my concept, masterfully edited in ms paint:
The idea is of an alpaca or two in a bicycle wheel. It'd need to say Team Alpaca in there somewhere, possibly around the wheel? I found a cool "in motion" kind of wheel image somewhere -- you know, the kind with lines coming out of it to indicate movement -- but have lost it. This one I found is rather small and minimal, but it conveys the idea....
Here are some alpaca black and white pictures:
Feel free to be creative, but there is one caveat for it to be usable: I'm hoping to make shirts at some point, so the logo needs to be screen-print-able. Black/white only - no gray-scale or color, and it'd need to be scalable to shirt-size.
That said, this is all really just for fun. If you just want to let loose and go crazy, that's cool too. *grin* Entertain us!
[Edit: Oh, this is a fun site!]