The sophisticated style first came to be in the 1920s as a way to spice up the uniform bob sported by flapper girls at that time in jazz clubs. The style made a comeback in the 90s for black hair and now it’s doing the rounds again. Like many old styles, it has been updated to match the looks of today.
These days, we usually don’t style finger waves all over the head though you certainly can if you want to. The more modern way of styling it is to just have waves along the hairline.
If you are considering the style for your next event, we would suggest that you go to a salon. Finger waves are not easy to do and they often take a lot of practice before you get the hang of it.