What is this ultralight? 1990s? Vermont

I have no idea WRT make and model, but it looks like what you may have is a two-seat ultralight trike (powered parachute) that was used for flight instruction under the United States Ultralight Association's (USUA) Exemption 4274 (see here).

Here's a guess: the "A02VIK" decal might be a USUA registration number.  Perhaps they can confirm or deny that.  Their contact info is at the bottom of the opening page on their website.

The FAA opened a brief window during which two-seat ultralights could be converted to Experimental-Light Sport Aircraft (E-LSA); that window closed on Jan 31st, 2008.  Any two-seat ultralight that wasn't converted and assigned a registration number prior to that date has no path forward as a registered aircraft.  USUA might be able to tell you if it's still usable for instruction as a two-seat ultralight vehicle under Exemption 4274.

Thank you so much! Are you saying it was once a two seater, but was converted to a one seater? Probably under that exemption? It has one seat now, but it looks like it has 2 sets of pedals. Thank any info helps.

I was wondering about the seating arrangement.  The seat looks like it might be wide enough for two people, but it's hard to tell for sure in the photos.  In any case, as you pointed out, there are two sets of pedals, which suggests that it's a two-seater.

Exemption 4274 doesn't apply to converting ultralight vehicles from two-seat to one-seat configuration; rather, it allows USUA instructors to teach in two-seaters.

I think -- and keep in mind that I haven't been involved in ultralights since the 90s and have never instructed in them -- that you have two options: 1. use the trike for instruction under USUA's Exemption 4274; or, 2. modify it so that it meets all of the limitations in FAR Part 103.1 (a)-(e) and qualifies as a legal ultralight vehicle.

Before it flies, someone who knows what they're looking at should thoroughly inspect the canopy and lines.

Ah ok I understand, thanks again, you have been super helpful!