Hello welcome to the forums.
I never heard of it but I would be tempted just because of the fender ornament. I am having some trouble making out some details but it looks like a shifter clamp was left on the down tube so this may not have always been a 3spd. Also is there two cables running to the rear hub?
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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