The story
Coined by Stephen Gosson in 1579 in the book The Ephemerides of Phialo: Deuided Into Three Bookes p62v
Etymology from Wiktionary, CC BY-SA 4.0.
make a silk purse of a sow's ear
Today it means: To produce something refined, admirable, or valuable from something which is unrefined, unpleasant, or of little or no value. Full definition →