Leaona C.
Yelp
Hanging Rock is set in the Macedon Ranges about an hour and 30 mins from Melbourne. As well as the famous rock formation (remember The classic Australian film Picnic at Hanging Rock?), there is also a racecourse (horses) next door and much larger state forest nearby. The rock can be climbed, just remember your walking shoes! There are easy routes a well as difficult ones. The easy routes still require you to be fairly fit.
Hanging rock holds a series of concerts from The Rolling Stones to Rod Stewart every year, as well as special events around public holidays.
There is a little museum on site, next to the visitor center, which is interesting, but not essential to visit.
I would not just stop at this one site, explore the rest of the state forest, it's beautiful and well worth a few day trips to explore.