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+1F9CB offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character “bubble tea” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: boba, bubble, food, milk, pearl, tea.
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:
Bubble tea (also known as pearl milk tea, bubble milk tea, tapioca milk tea, boba tea, or boba; Chinese: 珍珠奶茶; pinyin: zhēnzhū nǎichá, 波霸奶茶; bōbà nǎichá) is a tea-based drink that originated in Taiwan in the early 1980s. Taiwanese immigrants brought it to the United States in the 1990s, initially in California through regions including Los Angeles County, but the drink has also spread to other countries where there is a large East Asian diaspora population.
Bubble tea most commonly consists of tea accompanied by chewy tapioca balls ("boba" or "pearls"), but it can be made with other toppings as well, such as grass jelly, aloe vera, red bean, and popping boba. It has many varieties and flavors, but the two most popular varieties are pearl black milk tea and pearl green milk tea ("pearl" for the tapioca balls at the bottom).