late 14c., from Old French statue, estatue "(pagan) statue, graven image" (12c.), from Latin statua "image, statue, monumental figure, representation in metal," properly "that which is set up," back-formation from statuere "to cause to stand, set up," from status "a standing, position," from past participle stem of stare "to stand," from PIE *ste-tu-, from root *sta- "to stand, make or be firm." The children's game of statues is attested from 1906.
diminutive word-forming element, from Old French -ette (fem.), used indiscriminately in Old French with masculine form -et (see -et). As a general rule, older words borrowed from French have -et in English, while ones taken in since 17c. have -ette. In use with native words since late 19c., especially among persons who coin new product names, who tend to give it a sense of "imitation, a sort of" (for example flannelette "imitation flannel of cotton," 1876; leatherette, 1855; linenette, 1894). Also in such words as lecturette (1867), sermonette, which, OED remarks, "can scarcely be said to be in good use, though often met with in newspapers."