no idea about riding bikes there, but santa barbara is my favourite place ive ever been to. Its really amazing.
anyway the main road (state street) has about four bike shops on it, so at least one of them will be able to give you some pointers. cyclists seem to outnumber cars on the main street, so i presume the rides should be pretty easy to find. tag along with some locals maybe?
but yeah, i was shocked at how many people were on bikes, not just cyclists either. people were actually using them to go the shops and stuff instead of driving. beautiful, enjoy.