I think that "orange paint" around the handlebars is rust. This is a kids 20" (measured by the wheel size) mountain bike. There are lots of these kinds of bikes on the market and I agree $25 or so for this one seem like a decent price.
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“One morning you wake up, the girl is gone, the bikes are gone, all that's left behind is a pair of old tires and a tube of tubular glue, all squeezed out"
Sugar "Kane" Kowalczyk