The glyph is a canonical composition of the glyphs Glyph for U+005ALatin Capital Letter Z, Glyph for U+030CCombining Caron. It has no designated width in East Asian texts. In bidirectional text it is written from left to right. When changing direction it is not mirrored. The word that U+017D forms with similar adjacent characters prevents a line break inside it. The glyph can be confused with one other glyph.
The Wikipedia has the following information about this codepoint:
The grapheme Ž (minuscule: ž) is formed from Latin Z with the addition of caron (Czech: háček, Slovak: mäkčeň, Slovene: strešica, Serbo-Croatian: kvačica). It is used in various contexts, usually denoting the voiced postalveolar fricative, the sound of English g in mirage, s in vision, or Portuguese and French j. In the International Phonetic Alphabet this sound is denoted with [ʒ], but the lowercase ž is used in the Americanist phonetic notation, as well as in the Uralic Phonetic Alphabet. In addition, ž is used as the romanisation of Cyrillic ж in ISO 9 and scientific transliteration.
For use in computer systems, Ž and ž are at Unicode codepoints U+017D and U+017E, respectively. On Windows computers, it can be typed with Alt+0142 and Alt+0158, respectively.
Ž is the last letter of most alphabets that contain it, but exceptions include Estonian, Karelian, Veps, and Turkmen.