Actually, the ride in the game is sort of a mix-up of two rides.
The classic Caterpillar, which used to be popular as far back as the very early 20th century. It was mainly built out of wood and consisted of three identical hills/valleys.
The canopy that would close at the end of the ride was what made the ride so popular because it offered a few moments of privacy for its passengers, offering them the chance to fumble and kiss. Back in those morally strict times, it was a welcome chance to get away from the grown-ups.
In the 1970´s Mack would build the larger and much faster Musik Express, which still had three hills/valleys, but the one in the back was much bigger and hidden by a wall.
This cars on the Musik Express would actually have room for 3 to 4 people. When the ride was at full speed, it was so fast that the people sitting on the inside would have no chance but to fall into the person sitting on the outside. It was the perfect ride to "accidentally" get in contact with your ride companions. Musik Express would usually have no canopy.
So, the ride in PC looks like the Musik Express, except for the wall that hides the third hill (which is also of the same height as the others). From what we could see so far, it´s also by far not so fast as the original ride (which would also run forwards and backwards).