As for when and who developed the idea for tapping themselves before an elbow drop, the answer appears to be some time between the 1970s and early 1980s, though who exactly developed the practice is unclear. Some of the credit is given to “The American Dream” Dusty Rhodes, who used the standing Bionic Elbow and a typical elbow, though it’s not confirmed. One early example that was caught on tape was from a 1981 match between Greg “The Hammer” Valentine and Bob Backlund. Just before going to the second rope, Valentine can be seen taping on his right elbow, signaling that an elbow drop was coming. In this instance, that was all Valentine was doing, as he would miss the move off the second rope, sending the match towards its finish sequence. 

The practice became popularized not long after thanks in large part to Savage, who began using the Flying Elbow Drop off the top rope as his finisher, eventually making the move iconic. It was likely from Savage that other wrestlers began adopting the practice as well. The aforementioned Kari Sane has also tapped her elbow before elbow drops. And though he didn’t fly off the top rope, The Rock was noted as doing the same thing for his finishing move, The People’s Elbow, a part of a lengthy routine that would see Rock slowly take off his elbow pad and throw it into the crowd before swinging his arms wildly and hitting the ropes. In a way, one could argue that Rock took the signal and turned it into its own new thing.