This character is a Otro símbolo 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+1F389 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “cañón de confeti” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: celebración, confeti, fiesta.
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.
El Wikipedia tiene la siguiente información acerca de este punto de código:
A party popper is a handheld pyrotechnic device commonly used at parties. It emits a loud popping noise by means of a small, friction-actuated explosive charge that is activated by pulling a string. The explosive charge comes from a very small amount of Armstrong's mixture (a highly sensitive explosive) in the neck of the bottle-like shape. In some party poppers, the explosive charge is replaced by compressed air. In party poppers with an explosive charge, there are less than 0.25 grains (0.016 g) of explosive. The streamers are non-flammable for safe use. The charge or compressed air blows out some confetti or streamers and emits a popping sound. The charge is often composed of red phosphorus and strong oxidizer, such as potassium chlorate and potassium perchlorate.
There are also party popper revolvers on the market, which use a Speedloader — style cartridge filled with six-party popper charges inserted into a normally colourful plastic device loosely resembling a pistol or revolver. Its functionality is very much the same as a pistol; the depression of the trigger apparatus rotates the chamber so that a live charge is presented to a hammer, which falls onto a regular cap ring embedded in the bottom of the chamber. The chambers are one-time use only.