This character is a Other Symbol and is commonly used, that is, in no specific script. The character is also known as mochi balls on skewer.
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+1F361 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “dango” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: dessert, Japanese, skewer, stick, sweet.
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: 🍡︎ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
Dango (団子)
is a Japanese dumpling made from rice flour mixed with uruchi rice flour and glutinous rice flour. It is different from the method of making mochi, which is made after steaming glutinous rice. Dango is usually finished round shaped, three to five dango are often served on a skewer (skewered dango pieces called kushi-dango (串団子)). Generally, dango comes under the category of wagashi, and is often served with green tea. It is eaten year-round, but the different varieties are traditionally eaten in given seasons.