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+1F476 prohibits a line break after it, if it’s followed by an emoji modifier.
The CLDR project calls this character “baby” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: babies, children, goo, infant, newborn, pregnant, young.
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:
An infant or baby is the very young offspring of human beings. Infant (from the Latin word infans, meaning 'baby' or 'child') is a formal or specialised synonym for the common term baby. The terms may also be used to refer to juveniles of other organisms. A newborn is, in colloquial use, an infant who is only hours, days, or up to one month old. In medical contexts, a newborn or neonate (from Latin, neonatus, newborn) is an infant in the first 28 days after birth; the term applies to premature, full term, and postmature infants.
Infants born prior to 37 weeks of gestation are called "premature", those born between 39 and 40 weeks are "full term", those born through 41 weeks are "late term", and anything beyond 42 weeks is considered "post term".
Before birth, the offspring is called a fetus. The term infant is typically applied to very young children under one year of age; however, definitions may vary and may include children up to two years of age. When a human child learns to walk, they are called a toddler instead.