You have got 2 things going on here and you need to do them separately:
On one side you have what is a LED and you need to wire it up in series with a resistor. The specs on the sheet say that the Forward Current (If) is 20mA, for Forward Voltage (Vf) of 1.2V. If you are running off a 5V Arduino, you will need to drop 3.8V across the resistor at 20mA. Using Ohms Law (V=I*R) it gives us a resistor of 3.8/.020 = 190 Ohm. Use something close but over this value without being excessively over.
One the output side you have what is a voltage divider. If Vcc is 5V then I would try something like a 1k resistor.
The wiring diagram, by the way, is bottom left of page 2 of the specsheet.