Beautiful species of Peacock Spider :

Maratus volans, better known as the Peacock Spider, is the dandiest, the cutest little thing you’ll see today. The male of this species has two rounded, most brilliantly colored skin-like flaps on either side of his abdomen that are folded down close against the sides of the body, like a shawl. The brilliant colouring is not just for decoration, he uses it when he courts his mate.
The Peacock Spider is extremely tiny – a mere four millimetre in length. Hiding in the undergrowth, it is the sort of thing an average Australian bushwalker would pass right by, but not Dr Jurgen Otto who captured these shots on his camera.