The third episode is here.
LLair : a flashily dressed young man of brash and vulgar behaviour, to dress up in flashy clothes, to renovate or dress up something in bad taste
Lair it up : to behave in a brash and vulgar manner
Larrikin : a bloke who is always enjoying himself, harmless prankster
Lend of, to have a : to take advantage of somebody's gullibility, to have someone on ("he's having a lend of you")
Lippy : lipstick
Liquid laugh : vomit
Lizard drinking, flat out like a : flat out, busy
Lob, lob in : drop in to see someone ("the rellies have lobbed")
Lollies : sweets, candy
London to a brick : absolute certainty ("it's London to a brick that taxes won't go down")
Long paddock : the side of the road where livestock is grazed during droughts
Longneck : 750ml bottle of beer in South Australia
Lucky Country, The : Australia, where else?
Lunch, who opened their? : OK, who farted?
Lurk : illegal or underhanded racket, also to hang around
Maccas (pron. "mackers") : McDonald's (the hamburger place)
Mallee bull, as fit as a : very fit and strong. The Mallee is arid beef,sheep and wheat country in Victoria/South Australia.
Manchester : Household linen, eg sheets etc.
Mappa Tassie : map of Tasmania - a woman's pubic area
Mate : buddy, friend
Mate's rate, mate's discount : cheaper than usual for a "friend", also the five finger discount, free... stolen
Matilda : swagman's bedding, sleeping roll
Metho : methylated spirits
Mexican : a person from south of the Queensland border
Mickey Mouse : excellent, very good. Beware though - in some parts of Australia it means inconsequential, frivolous or not very good!
Middy : 285 ml beer glass in New South Wales
Milk bar : Deli, corner shop that sells takeaway food
Milko : milkman
Mob : group of people, not necessarily troublesome
Mob : family or group of kangaroos, herd of cattle or sheep.
Mongrel : despicable person
Moolah : money
Mozzie : mosquito
Muddie : mud crab (a great delicacy)
Mug : friendly insult ("have a go, yer mug"), gullible person
Mull : grass (the kind you smoke)
Muster : round up sheep or cattle
Mystery bag : a sausage
Nasho : National Service (compulsory military service)
Naughty, have a : have sex
Never Never : the Outback, centre of Australia
Nipper : young surf lifesaver
No drama : same as 'no worries'
No worries! : Expression of forgiveness or reassurance (No problem; forget about it; I can do it; Yes, I'll do it)
No-hoper : somebody who'll never do well
Not the full quid : not bright intellectually
Nuddy, in the : naked
Nun's nasty, as dry as a : dry
Nut out : hammer out or work out (an agreement, say)
O.S. : overseas ("he's gone O.S.")
Ocker : an unsophisticated person
Offsider : an assistant, helper
Old fella : penis
Oldies : parents - "I'll have to ask my oldies"
Op shop : opportunity shop, thrift store, place where second hand goods are sold.
Outback : interior of Australia
PPaddock : field, pasture, see 'long paddock'
Pash : a long passionate kiss; hence "pashing on"
Pav : Pavlova - a rich, creamy Australian dessert
Perve (noun & verb) : looking lustfully at the opposite sex
Piece of piss : easy task
Pig's arse! : I don't agree with you
Piker : Someone who doesn't want to fit in with others socially, leaves parties early
Pink slip, get the : get the sack (from the colour of the termination form)
Pint : large glass of beer (esp. in South Australia)
Piss : beer. Hence "hit the piss", "sink some piss"
Plate, bring a : Instruction on party or BBQ invitation to bring your own food. It doesn't mean they're short of crockery!
Plonk : cheap wine
Pokies : poker machines, fruit machines, gambling slot machines
Pollie : politician
Pom, pommy, pommie : an Englishman •
Pommy bastard : an Englishman (see also 'bastard')
Pommy shower : using deodorant instead of taking a shower
Pommy's towel, as dry as a : very dry - based on the canard that Poms bathe about once a month
Porky : Lie, untruth (pork pie = lie in rhyming slang)
Port : suitcase (portmanteau) mainly in Queensland.
Postie : postman, mailman
Pot : 285 ml beer glass in Queensland and Victoria
Pozzie : position - get a good pozzy at the football stadium
Prezzie : present, gift
Quid, make a : earn a living - "are you making a quid?"
Quid, not the full : of low IQ. [Historical note: 'quid' is slang for a pound. £1, became $2 when Australia converted to decimal currency in 1966]
Nearly there only i to go now.