Unscrew the bolt(s) from the rounded bowl on the side of the carb with a wrench or screwdriver. This is the fuel bowl, which has the squeeze gasket and float valve mechanism.
Pull the bowl away from the main body and discard the squeeze gasket.
Spray the inside of the bowl, the main body and all accessible channels/holes on the carb with carburetor cleaner to remove any fuel residue or debris. Inspect the float for proper up-and-down movement. If the float sticks or is visibly damaged, slide it out of the bowl by hand and insert a new float.
Sandwich a new squeeze gasket between the main body and the bowl. Install the bowl's bolt(s) and tighten it/them with the wrench/screwdriver.
Spray carburetor cleaner into all of the holes and orifices in the carb, accessible through the intake and air filter ports, to complete the rebuild.