Amber Cameron died instantly in the accident on Barclay Avenue in Elderslie, Renfrewshire, at around 10.55am yesterday morning.
She had cycled down a narrow path on to the main road when her bicycle was in collision with a single-decker bus.
Eyewitnesses described hearing a thump and the screech of metal.
The little girl was thrown from her bike, which was found lying under the bus.
An ambulance was called, but she died at the scene.
Her parents – mother Michelle, who is believed to be pregnant, and father Duncan – were too upset to make any comment last night.
One eyewitness said: "I heard a thump and a screech of metal and I jumped up to the window.
"The wee girl was lying on the road. The driver had got out but I knew she was gone. Her bike was under the bus."
Residents say they have repeatedly warned about the need for traffic calming measures, such as speed bumps, on the street, which is home to many families with young children.
Elizabeth Harkins said: "There are streets close by that have speed bumps but there is nothing here. There have been other accidents."
Another resident added: "The road can be bad at times. It's supposed to be a 'twenty's plenty', but drivers don't always stick to that.
"Now and again when they get a clear run at it they'll go a bit faster."
Another local person added: "We've pleaded with the authorities to do something."
Relatives and friends left floral tributes for Amber, who was a pupil at Wallace Primary in Elderslie.
One read: "Missed by everyone. You will be forever in our prayers."
Tributes had also been left on Facebook last night. Her cousin Michelle said "RIP wee cousin. Gone too soon.
"My thoughts go out to Duncan, Michelle and all the family."
Other residents also spoke of their shock.
Another resident said: "I didn't really know much about what had happened but the police came to the door and told us there had been a major incident and asked us if we had seen anything. Then, later on, I saw the bike coming out from underneath the bus. It was horrible to see that. It's a tragedy."
Another added: "We just missed the accident. We went for a walk and when we came back we saw all the police and the ambulance.
"The police were going round the streets trying to find the girl's parents.
"It's shocking that something like this has happened right on our doorstep. I really feel for the girl's parents."
A spokesman for Renfrewshire Council said: "This is a tragic loss of life and the thoughts of the whole school community are with Amber's family."
A report will be submitted to the procurator-fiscal and police inquiries are continuing. Anyone with information should contact Sergeant Jane Taylor at the divisional road policing unit in Greenock on 01475 492537.