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+1F0CF offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character βjokerβ for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: card, game, wildcard.
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: ποΈ See the Emojipedia for more details on this characterβs emoji properties.
The Wikipedia has the following information about this codepoint:
The Joker is a playing card found in most modern French-suited card decks, as an addition to the standard four suits (Clubs, Diamonds, Hearts, and Spades). Since the second half of the 20th century, they have also been found in Spanish- and Italian-suited decks, excluding stripped decks.
The Joker originated in the United States during the Civil War, and was created as a trump card for the game of Euchre. It has since been adopted into many other card games, where it often acts as a wild card, but may have other functions such as the top trump, a skip card (forcing another player to miss a turn), the lowest-ranking card, the highest-value card, or a card of a different value from the rest of the pack (see e.g. Zwicker which has six Jokers with this function).
By contrast, a wild card is any card that may be used to represent another card or cardsΒ β it does not need be a Joker.