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+1F97F offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “flat shoe” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: ballet, comfy, flat, flats, shoe, slip-on, slipper.
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:
Ballet flats or ballet pumps are women's shoes for everyday wear which are similar to/inspired by a women's ballet shoes, with a very thin heel or the appearance of no heel at all. The style sometimes features a ribbon-like binding around the low tops of the slipper and may have a slight gathering at the top-front of the vamp (toe box) and sometimes a tiny, decorative string tie. Ballet slippers can be adjusted and tightened to the wearer's foot by means of this string tie.
Ballet flats are especially popular for women and girls of all ages, being worn as a fashion trend and as a more comfortable alternative to high heels with everything from casual wear to formal wear and everything in between from jeans, shorts, skirts, dresses and leggings. A number of schools allow ballet flats as part of their uniform requirements and many school bands require black ballet flats as part of the dress requirements for performances.