Airtags were designed to help users track their belongings in case it gets misplaced or stolen. It is a device designed by Apple that directly connects to your iCloud to keep constant track of anything you attach it to, be it your luggage, laptop, or other personal effects.
Aside your iPhone, you can pair your AirTag to your iPad, iPod touch, and MacBook. It uses ultra Wideband technology to connect to the precision tracking embedded in these devices to help you track your missing item.
Your iPad however will need the latest updates in order to connect to your AirTag though.
It is also notable that you cannot connect a single AirTag to multiple devices. Say, connect your AirTag to your iPhone and your iPad. This is because the AirTag is designed to pair with a single iCloud and not multiple ones.
An AirTag costs $29 for a single one and $99 for four of them, if you feel like you need more. You would also need to purchase something to attach it to, be it a keychain or holder or a mount, since airtags are not magnetic or even sticky.