Banana Seat Bike! I had one similar to this. Mine was green and had four leaf clovers on the chain guard and it had a white seat. It wasn't a 3 speed like I wanted and it didn't have hand brakes like I wanted. It came from Monkey-Wards too.
Banana Seat Bike, boy this makes me want to scan a pix of my bike with a banana seat from the 70s!