Buffalo is a town in South Gippsland Shire in the South Gippsland region of Victoria, Australia. In 2016, it had a population of 272. The town w…Buffalo is a town in South Gippsland Shire in the South Gippsland region of Victoria, Australia. In 2016, it had a population of 272. The town was originally settled as a part of the rail-line link between Foster and Leongatha during the late 1800s. The town plans are available. Because of the advent of the motor-car, the township did not progress beyond being a small village. The local area is supported by many local farmers as well as local people that have moved into the area but work elsewhere, and retirees.