We present a photometric and spectroscopic study of the polar ring galaxy A0136-0801 in order to constrain its formation history . Near-Infrared ( NIR ) and optical imaging data are used to extract surface brightness and color profiles of the host galaxy and the wide polar structure in A0136-0801 . The host galaxy dominates the light emission in all bands ; the polar structure is more luminous in the optical bands and is three times more extended than the main spheroid . The average stellar population in the spheroid is redder than in the polar structure and we use their ( B-K ) vs. ( J-K ) colors to constraint the ages of these populations using stellar population synthesis models . The inferred ages are 3-5 Gyrs for the spheroid and 1-3 Gyrs for the polar structure . We then use long slit spectra along the major axis of the polar structure to derive the emission line ratios and constrain the oxygen abundance , metallicity and star formation rate in this component . We find 12 + log ( O / H ) = 8.33 \pm 0.43 and Z \simeq 0.32 Z _ { \odot } , using emission line ratios . These values are used , together with the ratio of the baryonic masses of the host galaxy and polar structure , to constraint the possible models for the formation scenario . We conclude that the tidal accretion of gas from a gas rich donor or the disruption of a gas-rich satellite are formation mechanisms that may lead to systems with physical parameters in agreement with those measured for A0136-0801 .