This is the national flag of the Republic of Cyprus, with a white background, an orange Cyprus territory and two crossed green olive branches in the middle. It is displayed as CY on some platforms. It generally means Cyprus or the territory of Cyprus. Its capital is Nicosia.
🇨🇾 is the Emoji of a country/region‘s flag, and its meaning is flag: Cyprus. The Emoji 🇨🇾 is composed of two regional indicator letters, namely 🇨 and 🇾. The country/region's 2-letter code for Cyprus is CY, so the letters corresponding to the two region indicator letters are C and Y. 🇨🇾 is displayed as a whole flag on most platforms and as a two-letter symbol on a few platforms.