This is a Furphy Farm Water Carrier.

In Australian, a "furphy" is a slang term for something that looked like a good idea,
but did not live up to expectations, or a story that is exaggerated or is not true.

(There is one version that a man called Furphy delivered water.  As he delivered water, he gossiped with his customers.
Due to frequent innaccurate reporting, the misinformation that he often spread became known as a "furphy")

 In the background is the woolshed.