I was looking for this song (which I originally heard from Danny Spooner at CDSS Pinewoods Folk Music week in 1999), because my sister, her son, and his family are in Australia right now and having to deal with rain delays.

I found some tidbits to add to the thread:

An Australian Folk Song A Day, December 7, 2011 has a recording (not sure by whom), lyrics (missing the "bloke from the west" verse), and an illustrative photo. (The link to the National Library of Australia is no longer current, but here's an interview with Bill Scott on the NLA site. His papers are now there.)

I found this 52 minute video, "Hey Rain - The songs and stories of Bill Scott", which opens with his story of the song's origin. I assume it's him singing in the soundtrack.

Here's Danny Spooner with the Australian Chamber Orchestra, instead of his usual concertina. Hey Rain (Live from City Recital Hall, Sydney, 2007). (I'm so sad he's gone too soon!)

Penny Davies and Roger Ilott Hey Rain! PENNY DAVIES & ROGER ILOTT sing Bill Scott's Australian classic

A nice simple one: The Basics "Hey Rain!" (Live at The Garradunga Pub)

~ Becky in Oregon