This character is a Otro símbolo and is commonly used, that is, in no specific script.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. U+1F3F2 offers a line break opportunity at its position, except in some numeric contexts.
El Wikipedia tiene la siguiente información acerca de este punto de código:
A pennon, also known as a pennant or pendant, is a long narrow flag which is larger at the hoist than at the fly, ie., the flag starts to narrow down as it moves away from the flagpole, when viewed from left to right. It can have several shapes, such as triangular, tapering (square tail) or triangular swallowtail (forked tail), etc. In maritime use, pennants are to be hung from the main truck.
Pennon-style flags were one of the principal three varieties of flags carried during the Middle Ages (the other two were the banner and the standard). The pennon is a flag resembling the guidon in shape, but only half the size. It does not contain any coat of arms, but only crests, mottos and heraldic and ornamental devices.
Pennoncell, streamer and wimpel are minor varieties of this style of flag (see variant types).