There are some great place names here in Tasmania.
Bust Me Gall Hill and Break Me Neck Hill are indeed quite steep - the first going up, the second coming down. The names come from the early pioneer era when bullock-drawn drays or horse-drawn coaches (or walking) were the normal form of transport.
Doo Town is wonderful, it is full of weekend 'shacks' with Doo names. Doo Wa Diddy, Doo Little, Doo Watchawant, that sort of thing.
Mainland Australia also has some fabulous place names. One of my favourites is on the Gold Coast hinterland, Wonglepong. No idea what it means or where it came from, but it just sounds awesome.
I've got a book at home with funny Tassie place names, must have a look at it and refresh my memory.