Welcome to the site Duty Bootie. Sounds like you're going to have a really happy kid on Christmas. My first purchase for the bike would be a service manual. Nothing makes you appreciate your bike more than working on it. My 17 year old does all his own maintenance now. At least when I can get him off his computer or phone.
If it was me, I would start by changing the oil, cleaning and oiling (or replacing) the air filter, lubing the cables, checking the chain slack and rear wheel alignment, and just giving it a general once over for any loose bolts. You might also check the coolant and make sure it's not low. If it is, watch the level and check your oil for coolant as you may need a water pump seal. Check and make sure the steering stem turns easily and nothing binds. I would treat the bike to a fresh plug and while you're at it I would look at the plug to make sure you aren't jetted rich or lean.
As for maintenance/service, I would get those fork seals replaced and new front brake pads installed. The silencer may need to be repacked with new fiberglass matting, and it wouldn't hurt to replace the pipe o-rings and the gasket between the pipe and silencer. You might also have the compression checked to make sure it doesn't need rings or a piston. If you are having any issues with idle or throttle response, I would clean the carb.
Let us know how he likes the bike. Sounds like it's going to be a special Christmas!
