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+1F97B offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “sari” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: clothing, dress.
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 sari (sometimes also saree or shari) is a women's garment from the Indian subcontinent, that consists of an un-stitched stretch of woven fabric arranged over the body as a robe, with one end attached to the waist, while the other end rests over one shoulder as a stole (shawl), sometimes baring a part of the midriff. It may vary from 4.1 to 8.2 metres (4.5 to 9 yards) in length, and 60 to 120 centimetres (24 to 47 inches) in breadth, and is form of ethnic wear in India, Sri Lanka, Nepal, Bangladesh and Pakistan. There are various names and styles of sari manufacture and draping, the most common being the Nivi style. The sari is worn with a fitted bodice also called a choli (ravike or kuppasa in southern India, and cholo in Nepal) and a petticoat called ghagra, parkar, or ul-pavadai. It remains fashionable in the Indian subcontinent today.