That particular character will always be 3 bytes in length, but others will be different. Unicode characters are anywhere from 1-4 bytes long. The 8 in 'UTF-8' just means that it uses 8-bit code units.
The Wikipedia page on UTF-8 provides a pretty good overview of how that works. Basically, the first bits of the first byte tell you how many bytes long that character will be. For instance, if the first bit of the first byte is a 0
as in 01111111
, then that means this character is only one byte long (in utf-8, these are the ascii characters). If the first bits are 110
as in 11011111
, then that tells you that this character will be two bytes long. The chart in the Wikipedia page provides a good illustration of this.
There's also this question, which has some good answers as well.