The photometric and spectroscopic observations of IRAS 18062+2410 = V886 Her, a candidate for protoplanetary objects, in 1996-1997 are presented. The star exhibits rapid light variations with an amplitude up to 0.3mag in V. A high-resolution spectrum of IRAS shows absorption lines of H, HeI, OI, FeII, SiII, NaI and other species, including [OII], [NII], and [FeII] that belong to the stellar envelope.