Can I use this pinhole camera with arduino?
No, you cannot use this with an Arduino without additional hardware in between, and even with it, not as more than a still camera (or maybe low quality video for one of the ARM- rather than ATmega-based boards).

The first problem is that this camera has a high speed analog output called composite video.  It is basically what would be fed into a modulator to produce an old-style analog TV signal.  Capturing this digitally requires an Analog to Digital converter (ADC) capable of several million measurements per second, while that on the classic ATmega-based Arduino tops out at around ten thousand.

But let's say you had an additional Analog-to-digital converter to put in between this and your arduino.  The next problem is that the data rate out of the camera will be too high, and the Arduino won't have enough RAM memory to buffer it. 

In theory, you could get a "frame grabber" consisting of an ADC and its own buffer memory, which would take a still snapshot of the video and allow the arduino to read it out more slowly.  But you can buy cameras which already do that with their onboard electronics, and allowing something like an Arduino to read the still image data out over a moderate speed serial interface.

Even the ARM-based arduino boards would be taxed to keep up with the output of a video ADC and do much of anything useful with the results - typical digital cameras do not record raw images to SD card, but do JPEG compression within a frame.  When cheap digital cameras operate in video mode, they compress each frame of the video before storing it (just as with stills - they do not compress between frames in the manner of real video recorders), and are able to get that processing done in time because the actual computing hardware is optimized for it in a way that none of the Arduinos are.

If you want to experiment with a camera on a development platform, there is one with a high speed digital interface sold as an add-on for the Raspberry Pi board.  Or you can use a more inexpensive USB webcam with that.