Clean it thoroughly. Replace the chain, cables, and brake shoes. Lube the hubs, bottom bracket and headset. Fix or replace the seat. Inflate the tires.
Then go ride the snot out of it. It's nothing extraordinary, but then it's not "junk".
I had a Taiwan-built Fisher Hoo-Koo-E-Koo. It was a perfectly practical and durable bike. I used it for commuting and trail riding while I had it. Then I gave it away to a kid who needed it more than me.