| Yeah Barry Humphries (Edna) is a send up of Aussie culture. The character Edna is from Mooney Ponds in the outer Melbourne suburbs, but honestly, I'm sure the saying is just a bit of made up slang by Humphries that has no real background.
I think this question has every Aussie stumped
Although we do have plenty of ridiculous sayings
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Platoon Commander, 4 Platoon, B Company
10/27th Battalion RSAR - RAinf 
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