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+1F44F prohibits a line break after it, if it’s followed by an emoji modifier.
The CLDR project calls this character “clapping hands” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: applause, approval, awesome, clap, congrats, congratulations, excited, good, great, hand, homie, job, nice, prayed, well, yay.
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: 👏︎ The character can be changed in appearance, if it is followed by an emoji modifier. See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
A clap is the percussive sound made by striking together two flat surfaces, as in the body parts of humans or animals. Humans clap with the palms of their hands, often quickly and repeatedly to express appreciation or approval (see applause), but also in rhythm as a form of body percussion to match the sounds in music, dance, chants, hand games, and clapping games.
Some people slap the back of one hand into the palm of the other hand to signify urgency or enthusiasm. This act may be considered uncouth by others.
Clapping is used in many forms of music. In American music, clapping is popular in funk, gospel, doo-wop and early pop. In flamenco and sevillanas, two Spanish musical genres, clapping is called palmas and often sets the rhythm and is an integral part of the songs. A sampled or synthesized clap is also a staple of electronic and pop music.