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+1FAAC offers a line break opportunity at its position, except in some numeric contexts.
The CLDR project calls this character โhamsaโ for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: amulet, Fatima, fortune, guide, hand, Mary, Miriam, palm, protect, protection.
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: ๐ชฌ๏ธ See the Emojipedia for more details on this characterโs emoji properties.
The Wikipedia has the following information about this codepoint:
The hamsa (Arabic: ุฎู ุณุฉ, romanized:ย khamsa, lit.โ'five', Hebrew: ืึทืึฐืกึธื, referring to images of 'the five fingers of the hand'), also known as the hand ofFatima, is a palm-shaped amulet popular throughout North Africa and in the Middle East and commonly used in jewellery and wall hangings. Depicting the open hand, an image recognized and used as a sign of protection in many times throughout history, the hamsa has been traditionally believed to provide defense against the evil eye.