A sparkler: a form of hand-held firework often used at parties and celebrations. The sparkler is lit at one end, and held at the other.
Most platforms display this with the lit end held down, as is the style for senko hanabi ("incense-stick fireworks") which is a traditional sparkler from from Japan.
Sparkler was approved as part of Unicode 6.0 in 2010 under the name “Firework Sparkler” and added to Emoji 1.0 in 2015.
U+1F387
? Firework sparkler