You can share your membership with your family or friends. Note that only three devices can take Peloton classes simultaneously.
To share your membership, ensure that your friend has a Peloton account. If not, they can create an account on onepeloton.com. Once they have an account set up, tap "More" in the bottom right corner of the app, then tap Subscriptions. Tap on the subscription that you would like to share and select "Add an account". Now your friend can log into the app and take a class.
Here is an animation that walks through sharing a subscription: