When faced with an oncoming car to the left and a bicyclist to the right, you should:

When there is more than one potential hazard on the road, you should ensure that you only have to deal with one of them at a time. For example, when there is a bicyclist on the right that you want to pass and an oncoming car to the left, you should not try to squeeze between both at the same time. Instead, let the oncoming car pass, and then pass the bicyclist.