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+1F457 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “dress” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: clothes, clothing, dressed, fancy, shopping.
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:
A dress (also known as a frock or a gown) is a one-piece outer garment that is worn on the torso and hangs down over the legs and is primarily worn by women or girls. Dresses often consist of a bodice attached to a skirt.
Dress shapes and silhouettes, textiles, and colors vary. Dresses can have sleeves of any length or can be sleeveless, and dresses can have any neckline. Similarly, dresses can have skirts of any length or hemline. These variances may be based on considerations such as fashion trends, modesty, weather, and personal taste. Dresses are generally suitable for both formal wear and casual wear in the West.
Historically, foundation garments and other structural garments—including items such as corsets, partlets, petticoats, panniers, bustles—were used to achieve the desired silhouette.