The most insulated of suburbs along the Mornington Peninsula in VIC. Its residents are generally old snobs, cashed up asians, painful and wealthy soccer mums and rich teenagers. The pinacle of Mount Eliza's community is 'The Village' a shopping village consisting of 80% hair salons 10% cafes and 10% overpriced retail stores.
Person A: "Dude do you live in Mount Eliza?"
Person B: "Nah dude, I'm not rich or snobby!"