Forks need straightened. 24 X 3 WW tires on the rear, and the front too, if the forks are wide enough. It looks like a 24" trike. Paint the rims, spokes and all, red. same goes for the cranks, sprocket, and handlebars. All red. Then of course, the frame and forks black, gloss or flat. The seat will probably clean up so it is good like it sits. Then I'd put a wooden box on the rear with a company name of some kind. A 3 speed stick shift would be a nice addition, but a twistgrip would be good too.