What is the origin of pin the tail on the donkey?

What is the origin of the game pin the tail on they donkey? My kids played it one year at one of their birthday parties, and it's fun, but thinking about it, the whole idea seems odd to say the least. Where did pin the tail on the donkey come from?

Hi thedude,
Because almost all children raised in the U.S. (and most of western Europe) have played this game for the last several generations, it is considered common culture. Thus references to the term will generally go unexplained. Idiomatically the term can be used derisively for any activity to which one is assigned which is pointless and/or for which they have been handicapped (blindfolded).
That's all I could find on it.
Sue