This character is a Other Symbol and is commonly used, that is, in no specific script. The character is also known as railroad.
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+1F6E4 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “railway track” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: railway, track, train.
This character is designated as an emoji. It will be rendered as monochrome character on conforming platforms. To enable colorful emoji display, you can combine it with Variation Selector-16: 🛤️ See the Emojipedia for more details on this character’s emoji properties.
The Wikipedia has the following information about this codepoint:
A railway track (British English and UIC terminology) or railroad track (American English), also known as a train track or permanent way (often "perway" in Australia or "P Way" in Britain), is the structure on a railway or railroad consisting of the rails, fasteners, railroad ties (sleepers, British English) and ballast (or slab track), plus the underlying subgrade. It enables trains to move by providing a dependable surface for their wheels to roll upon. Early tracks were constructed with wooden or cast iron rails, and wooden or stone sleepers; since the 1870s, rails have almost universally been made from steel.