“This statement is false.”
This is the Liar’s Paradox, and perhaps the shortest English expression of a paradox; a statement which in order to be true must be false.
The Pinnochio version would probably end up in his nose growing; Either he lied saying the statement, or he didnt. You could argue about the temporality of the word ‘now’ having passed by the time that his nose starts to grow, and as such his nose will grow as though he has told any other lie; you could argue of an oscillating truth, but in order for the truth to oscillate, his nose must have grown by some amount; or you could argue that nothing explicitly in the tale of Pinocchio says that his nose would return to normal when he tells the truth; a convenient omission in the tale, it never explicitly states; in fact, it is the blue fairy summoning woodpeckers to peck his nose back into shape. Then again, if you read the actual tale of Pinnochio, it does not require lying for his nose to grow, rather it’s a response to stress; so it would be a question of whether the puppet boy was being disobedient or strained in his statement.