Frame number (bottom bracket) MC9008 1987 Cruiser style,26" rims
It's a 1980's Peugeot Pipeline...not sure if its a Pipeline 1 or 5, but it IS a Peugeot...at least, they were badged/imported as and by Peugeot.
They only made them with a beach cruiser type frame for a few years, then went with more of a mountain bike type frame.
I bought a Pipeline 5 brand new in 1982, in my junior year of high school (I worked in a local bike shop, and worked for it!). It was the best riding, most comfortable bike I'd had upto that point, and one of the best I've ever had!
Mine was black, and the rims, brake levers, neck, calipers, and crank, were anodized gold, and the bars, seat post, and spokes, were stainless, and decals were white: it was an absolutely GORGEOUS bike, and it rode as good as it looked.
Only funky thing about it was, it originally had this rear drum brake, that was about 1" wide, mounted on one side of the rear hub: it failed in short time (I used to ride 100-200 miles every weekend!), so my dad took my rear wheel and I to a bike shop, and had the rear wheel rebuilt with a Atom hub - problem gone.
Unfortunately, I was relieved of the bike in 1984, by an older brother that had a bad drug habit, and have yet to find another Pipeline 5 like the one I had...in fact, it seems that very few were ever imported, as this is only the third one I've seen, in any condition.
That older brother has yet to so much as apologize for stealing the bike - my 35mm camera, and many other expensive things from myself or the rest of the family, and so, I have not spoken to him since, other than to tell him where to go.
I still have the owner's handbook for it somewhere...
Based on the available Peugeot catalogs it looks like this is not a Pipeline.
Given the double cable guides on the down tube Liz is right, this was a ten speed.
Update: Charles Irvin is right - the double cable guides do not indicate a ten speed. The 82 five speed version - as noted in the stats - has a PRIMEX-60 band brake rear which would use the left cable guide.
In searching through the U.S. Peugeot catalogs, it looks like the cantilever Pipeline frame was made in 1982 and in 1989 . It came in a one and five speed model.
I see nothing in the catalogs with the decals or paint scheme on your frame. The 82 sounds just like the one Charles describes.
I looked through catalogs from various countries - and there are differences in the line for different countries - but found nothing. I could have missed something.
Here's another source of Peugeot catalogs.