Yes an impressive sight and after a nice little chat I was a little wiser.
This gentleman stands at the entrance of the RAOB GAB Buffalo Club on Sutherland St.
Looked up for some more info and found this:
"No secret handshakes are required at this offbeat lodge-turned-club.
The Royal Antediluvian Order of Buffaloes sounds a lot like the lodge Fred Flintstone belonged to, but it is in fact a real live fraternal organisation. Its Melbourne headquarters have stood in one of the quieter CBD laneways for over 50 years, and would probably have continued to do so unnoticed by most were it not for the newcomers who have taken over the bar." -(by Una Cruickshank)