It certainly predates that sitcom “Full House” (where it was mostly used incorrectly) by several decades. “Pin a rose” refers to rewarding someone for a
good deed. To say “pin a rose on your nose” was a sarcastic way of saying you think you deserve an award, but you really don’t. You might say it to a braggart. “Yeah, we’ll pin a rose (award) on you… On your nose!”
Saying
sarcastically, “
good for you,” or, “well aren’t you special” have similar meanings. It’s like saying, you think you’re so good, but you’re not all that.