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.