This character is a Other Symbol and is commonly used, that is, in no specific script. The character is also known as baseball cap.
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+1F9E2 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “billed cap” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: baseball cap.
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 baseball cap is a type of soft hat with a rounded crown and a stiff bill projecting in front.
The front of the hat typically displays a design or a logo (historically, usually only a sports team, namely a baseball team, or names of relevant companies, when used as a commercial marketing technique). The hat may be "fitted" to the wearer's head or the back may have elastic, a plastic prong-in-a-hole (multiple holes with one prong that can be inserted), Velcro, a zipper, or a tri-glide slide so that it can be quickly adjusted to fit different wearers' heads. The baseball hat is a part of the traditional baseball uniform worn by players, with the brim pointing forward to shield the eyes from the sun. Since the 1980s, varieties of the hat have become prevalent in the United States and many other nations, both for utilitarian (protecting the eyes from the sun) and fashion accessory purposes.