Fair dinkum is a prime example of Australian slang, meaning ,genuine, real, square, honest (Use of the phrase clearly outlined by simonc). While it has always been seen as a typical Australian idiom, the irony is that it actually comes from the Chinese langauge.

In the 1850s the discovery of gold in Victoria, brought an influx of migrants, particularly Chinese in search of their fortune. Down in the mines, fools gold (some other mineral like pyrite, with a metallic gold sheen) was often mistaken for the real thing. However, when the Chinese miners did stumble across gold they would shout out Din gum! Din gum! - meaning real gold in Chinese.

Every school kid in Victoria that has been on an excursion to Sovereign Hill should already know this!