From memory, the film's normal colour negative processing. Dad used to have one of these 126 format cameras when we were young, although most of his photos were on slides.
The pictures are quite good, the frame is not much smaller than 35mm, so should be of good quality.
The 110 format seemed to be more popular, probably as the cameras were smaller, the frame was much smaller though.
Enjoy your find, hope your search for film goes well.