This is the dove with a halo, as a christian symbol for the Holy Spirit or the soul.
The colour red is associated with the blood of Christ and with the Holy Spirit.
The fact that you bought it in Italy (Rome) supports this, as there is a big christian community as well as many pilgrims and tourists visiting Rome and Vatican City.
Italo Calvino mentioned in his Italian Folktales that the silver nose was rare even in Italian tales.
But a silver nose was sometimes used as a prosthetic, when you lost a nose to syphilis. Hence, a silver nose is a sign of loose living.