Oh is THAT what they mean when they say parakeets?
I've been wondering this whole time!
No, budgerigar is definitely the correct term here. Parakeet just doesn't fit into our Aussie slang at all. I've heard of a budgie-smuggler, but a ringneck-smuggler is just a little bit disturbing!
(Note to the unaware: 'budgie-smuggler' is what we call guys in Speedos here...)