A fender mounting system that is particularly applicable to bicycles and that includes one or more adjustable strap assemblies that connect the fender to the bicycle. The strap assemblies include a first portion that is individually securable to the fender and a second portion that is individually securable to the underlying bicycle. A clamp assembly cooperates with the respective portions of the strap assembly so that the portions of the strap assembly bypass one another when the clamp assembly is loose to allow positioning of the fender relative to the wheel while the fender assembly is attached, albeit loosely, to the bicycle. Tightening of the clamp assembly fixes the position of the fender relative to an adjacent wheel.