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Two kids are going to see what's inside of a tunnel.
And when they arrive at the place one of them says: 'That's good'
and they stop riding their bikes. Does it mean something like 'this is the spot'?
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Funny expression to use there, but yes, that's about it. I've usually heard this to mean, "That's enough."

Can I have just a little gravy on my mashed potatoes? (Mom ladles gravy) That's good, thanks.

I mean, I've heard it used in this context to mean "that's enough." Obviously "that's good" can have a wider range of meaning Emotion: smile
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Thanks, D!