The string "0001F600""1F600" is the hexadecimal representation of a Unicode code point. As it is not in the BMP, you either need UTF32 or a UTF16 surrogate pair to represent it.
Here is some code to perform the requested conversion using UTF32 representation:
Parse as 32-bit integer:
var utf32Char = uint.Parse("0001F600""1F600", NumberStyles.AllowHexSpecifier);
Convert this to a 4-element byte array in litte-endian byte order:
var utf32Bytes = BitConverter.GetBytes(utf32Char); if (!BitConverter.IsLittleEndian) Array.Reverse(utf32Bytes);
Finally, use Encoding.UTF32 to make a string from it.
var str = Encoding.UTF32.GetString(utf32Bytes); Console.WriteLine(str);