This is a great classic cocktail and has no apparent reported history behind it. The drink is an IBA and an OIPBO official cocktail. Here is an early printing of the drink;
Publishers weekly: Volume 175 by R.R. Bowker Company, Publishers' Board of Trade (U.S.), Book Trade Association of Philadelphia in 1959
"The store also held a press party for Mr. Jennison, arranged with the cooperation of Crowell, Moet et Chandon champagne and Air France. Guests received bunches of mimosa, just off the plane from France."
It is difficult to determine where this drink gets it's name, however, there are strong indicators it was named after the Villa Mimosa. Here is an early printing of the Villa:
Mr. Grex of Monte Carlo - Page 280 by Edward Phillips Oppenheim in 1915
"CHAPTER XXVIII TO THE VILLA MIMOSA With feet that seemed to touch nothing more substantial than air, her eyes brilliant, a wonderful colour in her cheeks, Violet passed through the heavy, dingy rooms and out through the motley crowd."
The Villa Mimosa appeared in literature and motion picture through 1960. It is not definitive, but it is likely the drink was named after the Villa. Although the drink was possibly named after the Villa, it is undetermined where it was created. There is no evidence supporting the Villa being this drinks proprietor.
This drink dates between 1955 - 1959 and contained at least as of then:
Build these ingredients in a champagne flute: