Moving Characters Between Fonts

Is it possible to copy a Unicode character into a custom font and assign it a value in the ASCII (0 to 255) range?

Example:
Copy character F9C4 from a Unicode font and paste it into position 20 of the custom font.

As long as you hold the copyrights to the original font, or if it uses a GNU license agreement — just copy and paste. By default, glyph outlines and metrics will be copied. To copy postscript names and/or mapping, using paste special.