This character is a Other Letter and is mainly used in the Arabic script.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it is written as Arabic letter from right to left. When changing direction it is not mirrored. The word that U+067E 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:
Pe (پ) is a letter in the Persian alphabet used to represent the voiceless bilabial plosive ⟨p⟩. It is based on bā' (ب) with two additional diacritic dots. It is one of the four letters that were created specifically for the Persian alphabet to symbolize sounds found in Persian but not Arabic, others being Zh, Ch, and G.
It is used in Persian, Kurdish, Pashto, Balochi, and other Iranian languages, Uyghur, Urdu, Sindhi, Kashmiri, Shina, and Turkic languages (before the Latin and Cyrillic scripts were adopted).
It is one of additional common foreign letters that are sometimes used in some Arabic dialects to represent foreign sounds, it represents /p/ in loanwords and it can be substituted by ب/b/ such as in protein which is written as بروتين/broːtiːn/ or پروتين/proːtiːn/. In Egypt, the letter is called be be-talat noʾaṭ (به بتلات نقط[bebeˈtælætˈnoʔɑtˤ], ""pe").