Rosettes are the decorative pieces usually made of plaster)that surround chandeliers, etc., on the ceilings. There are also rosetters made of wood, usually at the upper corners of the old door trim.
Cloth covered wire would be illegal to use anymore to conduct electricity. If found in a building during remodelling, it must all be removed to bring it up to code and meet insurance requirements. The insurance company would deny any claim if they found cloth covered wire.
I believe what you are asking for is called a drop-down light. Those probably are not legal anymore either without a chain to support the light.