The first is indeed a toy rifle. It may have been made by Paris Dunn but it is not a training rifle. I have both types, Army and Navy and they can be looked at here:
https://www.milsurps.com/showthread.php?t=69384
The company had a good thing going and made these for years after the war. This is a simplified version of the Army version which is in turn a simplified version of the Navy version. Cadet corps, Boy Scouts, etc may have used them but they were also under a lot of Christmas trees. Not really much to restore with it, it looks to be in about average condition for the type. There's no scale to your photo so is this a full scale or smaller scale rifle? I have one that I have not photographed that is roughly 2/3rd's scale for smaller kids.Information
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