Southern Folklore Quarterly, Volume 13, 1949, page 127, gives as the source of quote a book called “Seven Hundred Chinese Proverbs, by Henry H. Hart (Stanford University Press, c. 1937), and indeed many books refer to it as a Chinese saying. The Buddha was not Chinese, so this is, to say the least, unlikely to be a canonical Buddha quote. It’s more likely that someone, as so often seems to happen, decided to add the Buddha’s name to this quote at some point.
It’s a common enough image, though, and it’s possible that the Buddha said something like this. In Portuguese they have the saying, “A lingua não é de aço, mas corta,” and in Spanish they say, “La lengua del mal amigo más corta que cuchillo.”
Interestingly, I haven’t come across the the word “tongue” in Pali being used to represent speech. “Jivhā” literally means tongue, and also “taste,” as in “Jivhā indriya” (sense of taste). But it isn’t used metonymically to stand for “speech.” Or if it is, I haven’t encountered it. It’s funny how languages have different associations with something as simple as the tongue.