This character is a Other Letter and is mainly used in the Arabic script.
The glyph is not a composition. It has no designated width in East Asian texts. In bidirectional text it is written as Arabic letter from right to left. When changing direction it is not mirrored. The word that U+06A1 forms with similar adjacent characters prevents a line break inside it. The glyph can be confused with 13 other glyphs.
The Wikipedia has the following information about this codepoint:
Pe is the seventeenth letter of the Semitic abjads, including Arabic fāʾف, Aramaic pē 𐡐, Hebrew pēפ, Phoenician pē 𐤐, and Syriac pē ܦ. (in abjadi order).
The original sound value is a voiceless bilabial plosive /p/ and it retains this value in most Semitic languages, except for Arabic, where the sound /p/ changed into the voiceless labiodental fricative /f/, carrying with it the pronunciation of the letter. However, the sound /p/ in Arabic is used in loanwords with the letter pe as an alternative. Under the Persian influence, many Arabic dialects in the Persian Gulf, as well as in Egypt and in some of the Maghreb under the Ottoman influence uses the letter pe to represent the sound /p/ which is missing in Modern Standard Arabic. Not to be confused with the Turned g. The Phoenician letter gave rise to the Greek Pi (Π), Latin P, and Cyrillic П.