It's a fountain fountain carved by a horse thief in prison outside the state parliament.
Plaque reads:
'Stanford Fountain (1867-1970)
William Stanford immigrated to Victoria to try his luck in the gold fields. However in 1854 he was convicted of horse stealing and spent the next 16 years in and out of jail including two years hard labour in irons for escaping.
William Stanford discovered his artistic talents in prison. He began carving this fountain in 1867 from bluestone, which was freely available in the prison quarry. Legend has it the prison Governor's son posed for the boy on the top of the fountain.'
Submitted by: @IanThorp