Though I don't raise emu, your chick looks like it may have splay (or spraddle) leg. It's important to address this ASAP for the best chance of the leg having normal function and appearance. Using a "hobble" made of elastic bandaging, like Vetrap, or medical tape, can train the leg to return to a normal position in around several days to a week.
After we put it on something more grippy for its feet we noticed that it doesn't stretch out as much and it's able to stand and dance for a short time.