U+1F973 Face with Party Horn and Party Hat

The Wikipedia has the following information about this codepoint:

A party is a gathering of people who have been invited by a host for the purposes of socializing, conversation, recreation, or as part of a festival or other commemoration or celebration of a special occasion. A party will often feature food and beverages, and often conversation, music, dancing, or other forms of entertainment.

Some parties are held in honor of a specific person, day, or event, such as a birthday party, a Super Bowl party, or a St. Patrick's Day party. Parties of this kind are often called celebrations. A party is not necessarily a private occasion. Public parties are sometimes held in restaurants, pubs, beer gardens, nightclubs, or bars, and people attending such parties may be charged an admission fee by the host. Large parties in public streets may celebrate events such as Mardi Gras or the signing of a peace treaty ending a long war.