My mother-in-law recently bought the Playskool Step Start Walk 'n Ride (bought used for like $5), and while it's too small for my 2.5 year old, I do still think it's a good product and look forward to using it next time we're here, when Meira starts to walk.
It's a great option for those who like to get the most product for the least amount of money. For $20 you get a ride-on toy + a pushing toy + a developmental toy with lots of fun things to push, turn, spin, and rattle. With just the squeeze of a level, the toy converts from something to sit on into something to walk with.
It's colorful, it's durable, and it's the perfect size for a first ride-on. The Playskool Step Start Walk 'n Ride gets my vote!