We introduce SplitFlyer--a novel quadcopter with an ability to disassemble into two self-contained bicopters through human assistance. As a subunit, the bicopter is a severely underactuated aerial vehicle equipped with only two propellers. Still, each bicopter is capable of independent flight. To achieve this, we provide an analysis of the system dynamics by relaxing the control over the yaw rotation, allowing the bicopter to maintain its large spinning rate in flight. Taking into account the gyroscopic motion, the dynamics are described and a cascaded control strategy is developed. We constructed a transformable prototype to demonstrate consecutive flights in both configurations. The results verify the proposed control strategy and show the potential of the platform for future research in modular aerial swarm robotics.