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.