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+1F57A prohibits a line break after it, if it’s followed by an emoji modifier.
The CLDR project calls this character “man dancing” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: dance, dancer, dancing, elegant, festive, flair, flamenco, groove, let’s, man, salsa, tango.
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: 🕺︎ The character can be changed in appearance, if it is followed by an emoji modifier. See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
Dance is an art form, consisting of sequences of body movements with aesthetic and often symbolic value, either improvised or purposefully selected. Dance can be categorized and described by its choreography, by its repertoire of movements or by its historical period or place of origin. Dance is typically performed with musical accompaniment, and sometimes with the dancer simultaneously using a musical instrument themselves.
There are two different types of dance: theatrical and participatory dance. Both types of dance may have special functions, whether social, ceremonial, competitive, erotic, martial, sacred or liturgical. Dance is not solely restricted to performance, as dance is used as a form of exercise and occasionally training for other sports and activities. Dance performances and dancing competitions are found across the world exhibiting various different styles and standards.