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It's from Lovecraft
A fictional occult phrase from H. P. Lovecraft's The Call of Cthulhu, said to mean "In his house at R'lyeh dead Cthulhu waits dreaming".
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https://en.bitcoin.it/wiki/Brainwallet#Obsolete_Brainwallet_Style
The brain wallets talked about in this post are described in this wiki. Nothing to do with 12 word mnemonic seed phrases.
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I thought brain wallets were regular random 12-word mnemonics memorized. Who the hell can memorize "Ph’nglui mglw’nafh Cthulhu R’lyeh wgah’nagl fhtagn”?? Google translate did not detect this language...