Although Knickers could be turned into 4,000 hamburger patties, owner Geoff Pearson says he has no plans to lead him to the slaughterhouse.
Holstein-Friesians are a dairy breed and normally weigh in at about 1,500 pounds and stand about 4-foot-1 tall.
First purchased for A$400 as a 12-month old, the seven-year old monster was set to be turned into hamburgers until a recent reprieve.
Geoff Pearson, Knickers' owner, said that the cow's size saved him from being slaughtered.
"We all know when Knickers is on the move", he said.
How Knickers got his name is simple but charming - Mr Pearson tells the story in the video above.
ABC South West Tyne Logan
"We have a high turnover of cattle and he was lucky enough to stay behind".
Margaret River veterinarian Rupert Mothersole told ABC that he has never seen a cow as large as Knickers, but he stated it's not unusual for Holstein-Friesian to grow to that size.
As a result the 194cm tall steer was given a second life on the farm.
It's not quite the tallest living steer - that title goes to Bellino, an Italian cow that stands an insane 202.7 centimetres tall when measured in 2010.
Australia's own Big Moo, a South Australian Guernsey steer, was previously thought to be the biggest in Australia, standing 190cm tall.
According to the Guinness Book of World Records, the world record for the largest bovine is 2267kg while the tallest steer in the record book measures in at just over two metres.
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