Good or Bad

While shopping an a local antique store I discovered this little find. Thinking it would be great yard decorations, with the help of some flowers and trees.
Later after looking this garden orniment over, I thought, maybe this could be a restoration project.
Sad part, cant find any history on it, the name tag is gone, the tires say Schwinn, the serial does not match Schwinns data, looks pretty old.

Done a lot of Googling but cant find the history. Anybody know a little bicycle history?

Next guess, Flower Garden or restore?