This character is a Other Symbol and is commonly used, that is, in no specific script.
The glyph is not a composition. Its East Asian Width is wide. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. U+1F462 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “woman’s boot” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: boot, clothing, shoe, woman.
This character is designated as an emoji. It will be rendered as colorful emoji on conforming platforms. To reduce it to a monochrome character, you can combine it with Variation Selector-15: 👢︎ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
A fashion boot is a boot worn for reasons of style or fashion (rather than for utilitarian purposes – e.g. not hiking boots, riding boots, rain boots, etc.). The term is usually applied to women's boots. Fashion boots come in a wide variety of styles, from ankle to thigh-length, and are used for casual, formal, and business attire. Although boots were a popular style of women's footwear in the 19th century, they were not recognized as a high fashion item until the 1960s. They became widely popular in the 1970s and have remained a staple of women's winter wardrobes since then.