This paper describes the design and evaluation of a Legged Piezoelectric Miniature Robot (LPMR) propelled by standing wave vibrations at the legs, which are biologically inspired by the bounding gait locomotion of animals. The LPMR comprises of a single piezoelectric patch, a metal beam, two contact joints, two rigid legs and is able to achieve tether-less remote controlled operation. Through analysis of the bending modes of vibrations and driving frequency, a forward and backward motion of the underactuated system is achieved by choosing specific positions for the legs. At 100 V amplitude, the LPMR with the weight of 6.27 g, length of 50 mm, width of 10 mm and height of 1.5 mm achieves a maximum linear speed of 246.5 mm/s for forward motion and 302 mm/s for backward motion. The LPMR is also able to carry a payload of 100 g at a speed of 49.6 mm/s for forward motion and 87.9 mm/s for backward motion when applying 100 V amplitude. The corresponding maximum force generated by the LPMR is 9.8 mN during forward motion and 12 mN during backward motion at the same applied voltage. An experimental characterization for the LPMR in terms of speed versus applied voltage, speed versus embedded mass and blocking force for different applied voltages is explored and evaluated in this study.