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+1F3A2 offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “roller coaster” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: amusement, coaster, park, roller, theme.
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 roller coaster is a type of amusement ride employing a form of elevated railroad track that carries passengers on a train through tight turns, steep slopes, and other elements usually designed to produce a thrilling experience. Trains consist of open cars connected in a single line, and the rides are often found in theme parks around the world. Roller coasters first appeared in the 17th century, and LaMarcus Adna Thompson obtained one of the first known patents for a roller coaster design in 1885, based on the Switchback Railway which opened a year earlier at Coney Island.
Tracks are typically built and designed as a complete circuit in which trains depart from and return to the same loading station. One variation, a shuttle roller coaster, reverses at some point throughout the course of the ride to traverse the same track backwards.