Yep, it's a Glaucid nudibranch, and
Glaucus atlanticus, despite its name, is actually distributed worldwide between latitudes 50°N and 50°S. It's recorded as being found frequently on the east coast of Australia.
Do NOT try to pick it up without adequate protection, however. This nudibranch is one of those numerous cnidarian-feeding species with a sequestration capability. It feeds upon the cnidoblasts of
Physalia, the Portuguese Man'O'War, and passes them through its digestive tract undischarged, before deploying them within the feather-like cerata for its own defence. As a consequence, these nudibranchs pack a powerful punch - the stings from the sequestered cnidoblasts will really make you sit up and take notice!
Incidentally, the nudibranch's digestive system appears to select the most venomous cnidoblasts for sequestering and re-use in the organism's own defence, and immature or previously discharged cnidoblasts are digested. Because it also has the remarkable ability to concentrate the venom even more powerfully in the sequestered cnidoblasts than its original host, it can deliver a
worse sting than the original cnidarian!
More on this fascinating nudibranch
here.