I would go blood red, matching the red in the Gitane logo. Use cotton wrap if you can put aside comfort for vanities sake; if you're actually going to ride the bike, then consider other materials that might supply a greater level of comfort. Blood red leather would be KA too. Paint the panto features in the stem blood red too, to give it some addition pizzazz and anchor. Off white cables, if you can find them, otherwise straight up white and let Father Time do his thing to blend them both (tape and cable housings) to a level appropriate to the age of the bike. With this, you have a red/white/blue Gitane, the same colors as the flag of it's homeland, but slightly faded, which basically states that you "always had it right". Vive la France and their bicycles!