The year 1857 was an auspicious one for the town of Gawler. This was the year that the Adelaide to Gawler telegraph was completed, and that the northern railway was extended from Adelaide to the town. It was also the year that the town's first bank opened, and the Institute, and it was the year that Gawler was declared a municipality. In that year a Scottish printer named William Barnet arrived in the town and opened his business. In 1859 a group of local men formed the 'Gawler Humbug Society.' In 1863 one of these, Dr George Nott, with William Barnet, published a newsletter for the group, which was named the 'Bunyip'. The publication, like the group itself, aimed to lampoon and deflate perceived forms of humbug, in particular, the 'humbug' produced in South Australian Parliament. The first issue declared, 'Why the Bunyip? Because the Bunyip is the true type of Australian Humbug!' Dr George Nott was the first editor. Several prominent early South Australian journalists were associated with the small newsletter, including E. Lindley Grundy, George Isaacs, Ephraim Coombe and George Loyau.

Initially published monthly, by January 1866 the title had evolved into Gawler's weekly newspaper. In 1885 the Bunyip became the first country newspaper to sell at the low price of one penny per issue. William Barnet ran the newspaper until his death in 1895, when it passed to his son, Robert Barnet, then in 1917 to another son, Frank Barnet. Ken Barnet became the third generation of the family in the business, and from 1975 John Barnet ran the newspaper. The Barnet family were prominent townspeople, active in a variety of organisations. In 2003 the family sold the Bunyip to the Taylor family of the Renmark-based Murray pioneer. The Bunyip has been printed at Renmark by the Pioneer since then.