This is what a used kid’s bike should look like. Beaten to a pulp and ready for more. Broken rear fender, missing chainguard, smooshed in forks. The owner of this bike had poor impulse control.
But despite it’s tattered and battered condition it is still one of the cutest little bikes I’ve ever seen. It appears taller than most bikes of its ilk but also a shorter wheelbase giving the impression of a square.
As far as restorability I wouldn’t offer much hope. The chainguard I’m sure would not be easy to obtain or replicate. The rear fender could be shaped and coaxed into reasonable condition, but replacing it would be no easier than the chainguard. Then there’s the forks. I don’t think they can be straightened and maintain any structural integrity.
On the other hand, if you wanted make a usable bike out of it, it might not be such a task. Fashioning a new, or repurposing an old chainguard shouldn’t be too hard. The forks look like the could be replaced by some little BMX-style forks or even replaced by some metal tubing from the hardware store. Then given to a small psychotic child who can destroy it all over again.