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+1F97C offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “lab coat” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: clothes, coat, doctor, dr, experiment, jacket, lab, scientist, white.
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 white coat, also known as a laboratory coat or lab coat, is a knee-length overcoat or smock worn by professionals in the medical field or by those involved in laboratory work. The coat protects their street clothes and also serves as a simple uniform. The garment is made from white or light-colored cotton, linen, or cotton polyester blend, allowing it to be washed at high temperature and making it easy to see if it is clean.
Similar coats are a symbol of learning in Argentina and Uruguay, where they are worn by both students and teachers in state schools. In Tunisia and Mozambique, teachers wear white coats to protect their street clothes from chalk.
Like the word "suit", the phrase "white coat" is sometimes used as a metonym to denote the wearer, such as a scientist working in a high-tech company.